Monday, May 16, 2022

Petrol-diesel prices to go up in Jharkhand

Cabinet increases Professional Tax ambit, passes COVID-19 Cess Ordinance

Ranchi: People in Jharkhand may have to cough up more for air travel as Jharkhand Cabinet here decided to impose 20 per cent Value Added Tax (VAT) on aviation fuel. Earlier, 4 per cent VAT was imposed on aviation fuel.

Petrol and diesel prices are also expected to soar as the Cabinet has decided to increase the minimum tax levied on these fuels. The Cabinet has decided to impose a tax of Rs 12.50 on diesel and Rs 17 on petrol. Earlier, tax on diesel was Rs 8.37 while tax on petrol was Rs 15.

In other important decisions, the Cabinet decided to increase Professional Tax rates.

Now, those having a turnover between Rs 5 lakh and Rs 10 lakh will have to pay Rs 1000 per annum while those having a turnover above Rs 10 lakh and up to Rs 25 lakh will have to pay Rs 1500 per annum.

Those with turnover from Rs 25 lakh to Rs 40 lakh will have to pay Rs 2000 while those above a turnover of Rs 40 lakh will have to pay Rs 2500.

The Cabinet has also given nod to the COVID-19 Pandemic Cess Ordinance, Jharkhand Mineral Bearing Land Ordinance, sources said.

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