J&K govt reduces petrol/diesel price by Rs 12/ 17 per litre
Srinagar: The J&K government has decided to reduce petrol price by Rs 12 per litre and diesel price by Rs 17 a litre following reduction of excise duty on the fuels by the Centre.
Announcing the decision, LG Manoj Sinha said that the UT government will reduce additional Rs 7 on petrol and diesel.
“Hon’ble PM @narendramodi Ji has given a great Deepawali gift by announcing reduction in excise duty on Petrol&Diesel. In addition,J&K admin has decided to reduce additional Rs.7 on Petrol&Diesel, thereby reducing Petrol price by Rs.12/litre &Diesel by Rs.17/litre in UT from today, ” LG wrote in a tweet.
Meanwhile, a notification issued in this regard said, “In exercise of the powers conferred by Section 3 and 3A of the Jammu and Kashmir Motor Spirit and Diesel oil (Taxation of Sales) Act, Samvat 2005 and in supersession of all the previous notifications on the subject, the government hereby direct that tax and cess on sale of Motor Spirit (petrol) and Diesel oil shall be levied at the rate as shown in the Table:
|S.No||Name of the Commodity||Rate of Tax||Cess|
|1||Motor Spirit (petrol)||24% minus
|2||Diesel oil||16% minus