The Government of Punjab has issued a notification to make amendments in the Schedule E of the Punjab Value Added Tax Act, 2005. The notification was issued on 4th February, 2023.
The amendment revises the rate of tax as follows:
“1. Diesel other than premium diesel – 10.97 percent or rupees 9.14 per litre, whichever is greater
2. Petrol – 14.75 percent or rupees 13.40 per litre, whichever is greater:
Provided that Additional tax at the rate of 10% shall be added in ad valorem rates only. These fixed rates are already inclusive of additional tax at the rate of 10%.
