Petrol, diesel prices soar in Nagaland after Govt raises tax

Petrol, diesel prices soar in Nagaland after Govt raises tax
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Dimapur, February 18: Petrol price in Nagaland has been hiked by over Rs 3 and diesel by over Rs 2.80 from February 16 after Chief Minister Neiphiu Rio, who holds the finance portfolio, raised duty on petrol and diesel, as well as road maintenance cess on petroleum products, to generate additional revenue of Rs 33 crore for the State.
In an effort to increase revenue mobilization, Rio had raised the rate of tax on diesel from 10% to 14.5% and petrol & other motor spirit from 20.38% to 25%. He also increased the rate of road maintenance cess per litre of diesel, petrol and other motor spirit from Rs 1.50 paisa to Rs 2.
The increase in taxes and road maintenance cess came into effect in the State from the midnight of February 15 last. Rio has announced the increase in the taxes in his Budget for 2020-2021 presented on February 13.
Petrol price in Dimapur was constant at Rs 69.91 per litre since February 11 to February 15, but with the increase in taxes coming into effect from the midnight of February 15, petrol prices jumped to Rs 73.04 per litre on February 16, an overnight increase of Rs 3.13 per litre. On February 17, petrol price remained the same, while on Tuesday (Feb 18) it fell by Rs 0.05 paisa and was retailing at Rs 72.99 per litre.
In Kohima, petrol price was constant at Rs 70.75 per litre from February 12 to 15, but with the increase in taxes, it jumped to Rs 73.90 per litre on February 16, an increase by Rs 3.15 per litre. On Tuesday (Feb 18), petrol price fell by Rs 0.05 paisa and was Rs 73,85 per litre.
In Mokokchung, petrol price was hiked by Rs 3.18 per litre – from Rs 71.29 per litre (Feb 15) to Rs 74.47 per litre (Feb 16). In Kiphire, the hike was Rs 3.22 – from Rs 72.41 (Feb 15) to Rs 75.63 (Feb 16). In Zunheboto, the hike was Rs 3.19 – from Rs 71.97 to Rs 75.16.
Similarly, diesel price in Dimapur was Rs 62.66 per litre on February 15, but it jumped to Rs 65.48 per litre on February 16, an increase of Rs 2.82 per litre. On Tuesday (Feb 18), diesel price was 65.43 per litre, a drop of Rs 0.05 paisa.
In State capital Kohima, diesel price saw a hike by Rs 2.98 – from Rs 63.10 per litre (Feb 15) to Rs 66.08 (Feb 16). In Mokokchung, diesel price jumped from Rs 63.83 (Feb 15) to Rs 66.84 (Feb 16), an increase by Rs 3.01. In Kiphire the hike was Rs 3.05 – from Rs 64.79 to Rs 67.84. In Zunheboto, the increase was by Rs 3.02 – from Rs 64.32 to Rs 67.34.
In his budget speech, Rio also announced a one-time tax of 3% of the original cost of the vehicle for the first 10 years on heavy machinery and non-transport vehicles and equipment purchased within the State as well as brought into the State for commercial activities. For the next 5 years, the rate of tax shall be reduced to Rs 1.5%.
(Page News Service)