Punjab: VAT on petrol hiked by 61 paise and on diesel by 92 paise

Chandigarh: The Punjab Cabinet on Thursday gave approval to hike value-added tax (VAT) on petrol and diesel by 61 paise a litre and 92 paise per litre, respectively.

A decision in this regard was taken by the council of ministers in a meeting chaired by Chief Minister Bhagwant Mann here.

Addressing the media after the Cabinet meeting, Finance Minister Harpal Singh Cheema said the decision has been taken to raise VAT on petrol and diesel.

He said VAT on petrol will be raised by 61 paise and 92 paise a litre for diesel.

Cheema said the hike in VAT on fuel will lead to an increase in revenue by Rs 395 crore from diesel and Rs 150 crore from petrol.