Punjab Local News : The 100 million of revenue from lower prices hurt
Jalandhar (Dhawan): The Punjab government on diesel and petrol is being considered to increase the VAT rate. International crude oil prices continue to decline in revenue from the state government is looking straight drain. Finance and Taxation Department official circles said petrol and diesel Given the shortfall in revenue from VAT has started to consider raising rates. The government has also increased by 2 times before VAT rates. Taxation officials have increased concerns. He applied a year ago from VAT on petroleum products that were targets of the income in the current year is expected to come down significantly.
Punjab has 70 million burden on petroleum dealers
Petrol and diesel prices to oil companies to cut Saturday announced the Punjab Petroleum Dealers burden has fallen about 70 lakh. Punjab Petroleum Dealers Association President JP Khanna said dealers had expected the oil companies cut prices will on January 15 but did not reduce prices further 15 dealers to buy large companies put petrol and diesel because it seemed to them that the prices January 30 will be reduced by the oil companies, but the oil companies to reduce prices announced on January 16 and 12 at night their decisions are implemented. In this case, the cheapest petrol dealers had to sell at high prices when they bought it. If the companies are making similar decisions dealers will stop functioning.
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