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With the Punjab Vidhan Sabha passing the Punjab Social Security Bill, 2018, and the Punjab State Development Tax Bill, 2018, the Capt Amarinder Singh-led government has imposed fresh taxes on Punjab residents, generating an additional revenue of Rs 1,500 crore. It plans to use this money not only to fund social welfare schemes, but to also give unemployment allowance to the state's jobless youth. Petrol and diesel, registration of vehicles, motor vehicle tax, electricity bills and liquor will become dearer in the state by way of the Social Welfare Security Bill.
Levies under Social Security Bill • Surcharge not exceeding Rs 2 per litre on sale of petrol/diesel, subject to Punjab Value Added Tax Act, 2005 • Surcharge not exceeding 1 pc of the value of vehicles, subject to Punjab Motor Vehicles Taxation Act, 1924 • Surcharge at 5 per cent of monthly electricity bill, minimum liability not less than Rs 25 per month and maximum not more than Rs 1,000 per month • Surcharge not exceeding 10 pc excise duty and licence fee, as chargeable under Punjab Excise Act, 1914
Levy under Development Tax Bill • Rs 200 per month on all persons assessed under the head 'Income from salaries/wages" as per the Income Tax Act, 1961, and those under the head 'business and profession' • Applicable on those with an income of Rs 30,000 per month
By: Dr. Vivek Rana ProfileResourcesReport error
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