Chandigarh, Aug 10 – The Haryana Government has reduced the rate of VAT on Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) from 12.5 per cent to five per cent.
A decision to this effect has been taken by the State Cabinet, which met here today under the Chairmanship of Chief Minister, Mr.Bhupinder Singh Hooda.
The Cabinet also gave its approval to the proposal of Excise and Taxation Department for amending Rule 9(1) (xiv) of Punjab Passengers and Goods Taxation Rules, 1952 to facilitate implementation of new composite fee regime for National Permit.
Under new scheme of single National Permit fee, a consolidated composite fee of Rs.15,000 per truck per annum is to be deposited in the National Permit account for the permit granted to operate throughout the Territory of India. The consolidated fee deposited in the National Permit account shall be distributed by the Central Government among the States and Union Territories on pro-rata basis.
Last year, the Government of Haryana had decided to defer the input tax credit on closing stock till the time of actual sales. Considering a continuous request from the trade associations, the Cabinet has decided to withdraw this provision from retrospective effect.