The Government of Punjab on February 04, 2023, issued a notification to make amendments in the Schedule E of the Punjab Value Added Tax Act, 2005.
The following amendment shave been stated:
In the Schedule "E", for serial numbers 1 and 2 and the entries relating thereto, the following has been substituted, namely:-
“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% as specified in section 8-B of the Punjab Value Added Tax Act, 2005 shall be added in ad valorem rates only. Fixed rates specified above are already inclusive of additional tax at the rate of 10% as specified in section 8-B of the Punjab Value Added Tax Act, 2005.”
[Notification No. S.O. 15/P.A. 8/2005/S.8/2023]
