Petrol and diesel will be costlier in Punjab with the government deciding on Wednesday to levy Re.1 cess on petrol and diesel. Electricity and sugar will also be dearer.However, it reduced stamp fee on power of attorney registrations from two to 0.5 percent.These decisions were taken at a meeting here of the council of ministers chaired by Deputy Chief Minister Sukhbir Singh Badal.To mop up additional revenue of nearly Rs.1,400 crore annually, the cabinet decided to enhance infrastructure development (ID) fee from the existing Re.1 to Rs.2 per litre on the sale of petrol. For diesel, it was Re.1 per litre from nil earlier.The cabinet also gave its nod to levy of ID fee at the rate of Rs.5 per Rs.100 value of electricity consumed. Similarly, it approved levy of ID fee at the rate of one percent on the purchase of immovable property within Punjab.A government spokesperson said it was also decided to impose entry tax on the sugar being brought into the state from outside the state at the rate of 11 percent, through the Punjab Development of Trade, Commerce and Industries Ordinance of 2015.
For improving wheat storage facilities, it approved a proposal to create modern warehousing facilities by establishing steel silos for 15 lakh tonnes of grain by the Punjab State Warehousing Corporation.It also decided to create 125 posts in the police department for the players who have won medals at national and international competitions.Giving some relief, the cabinet reduced the rate of stamp duty from existing two to 0.5 percent on the registration of power of attorney given with an objective of sale of property or transfer of possession.The 0.5 percent of the stamp duty will be adjustable towards the payable stamp duty at the time of execution of sale deed with respect to that property. On all other power of attorney registrations, a stamp duty of Rs.2,000 will be levied.It gave remission of stamp duty and related cess thereon on the transfer of immovable property to the family members, including transfer to the spouse in the urban areas, on the pattern of such facility already allowed on transfer of property in rural areas.