The Governor of Nagaland has announced amendments to the tax rates on petroleum products, effective from midnight of June 30, 2024. This change, exercised under the powers conferred by sub-section 3 of section 3A of the Nagaland (Sales of Petroleum and Petroleum Products including Motor Spirit and Lubricants) Taxation Act, 1967, aims to adjust the rates prescribed under Entry Serial Number 3 and 4 of Schedule II of the Act.
The updated tax rates are as follows:
Diesel: The tax rate has been increased from 16.5% or Rs. 10.51 per litre, whichever is higher, to 17.20% or Rs. 12.83 per litre, whichever is higher.
Petrol & Other Motor Spirit: The tax rate has been revised from 25% or Rs. 16.04 per litre, whichever is higher, to 21.75% or Rs. 16.94 per litre, whichever is higher.
The notification also revokes previous notifications regarding surcharge, road maintenance cess, and rebates on diesel and petrol dated November 16, 2004, February 14, 2020, and November 4, 2021, respectively.