Petrol, diesel, liquor to cost more in Karnataka

Source : IANS
Author : IANS
Last Updated: Fri, Mar 6th, 2020, 11:35:10hrs
Petrol, diesel, liquor to cost more in Karnataka

Bengaluru: Petrol, diesel and liquor would cost more in Karnataka from April 1 due to tax hike on them in the Budget 2020-21 that Chief Minister B.S. Yediyurappa presented in the Assembly on Thursday.

"Petrol rate will increase by Rs 1.60 per litre and diesel by Rs 1.59 a litre from April 1, as I propose to increase 3 per cent value added tax (VAT) on both the fuels," Yediyurappa told the members.

The budget proposes to increase VAT on petrol to 35 per cent from 32 per cent and on diesel to 24 per cent from 21 per cent.

To mobilise more resources to fund his budget proposals, Yediyurappa, who also holds the Finance portfolio, increased additional excise duty on Indian made liquor by 6 per cent per bulk litre or 9 litres.

"I propose to increase the rates of AED 6 per cent per bulk litre of IML across 18 slabs with effect from April 1," he said.

The 6 per cent increase in the AED will make the cheapest liquor brand cost Rs 9 more per carton of 12 bottles and the costliest brands Rs 202 more per carton.

The budget has increased the motor vehicle tax on mini-buses and sleeper coaches for shoring up state revenue.

"I propose to levy motor vehicle tax on mini-buses with 12-20 seats at Rs 900 per seat per quarter and on new model sleeper coaches Rs 4,000 per sleeper per quarter to raise more resources," Yediyurappa said in his 100-minute budget speech.

To promote affordable housing, the Chief Minister, however slashed stamp duty on new flats or apartments costing less than Rs 20 lakh to 2 per cent from 5 per cent currently.