Srinagar, May 29 : The petrol as well as the diesel is set to become costlier in Jammu and Kashmir as the government on Friday announced new tax besides surcharge of Rs five per litre on petrol and Rs 1.5 on diesel from June 01, 2020.
“In exercise of the powers conferred by Section 3 and 3A of the Jammu and Kashmir Motor Spirit and Diesel Oil (Taxation of Sale) Act Samvat 2005 and in supersession of all the previous notifications on the subject, the government hereby direct that tax and surcharge on sale of Motor Sprit (petrol) and Diesel oil shall be levied at rate —-petrol tax: 24% minus Rs 0.50/litre and surcharge petrol: Rs 5/litre; Diesel—rate of tax 16% and surcharge 1.5/litre,” reads a notification issued by Arun Kumar Mehta, Financial Commissioner of Finance Department. (KNO)
