Special ID fee on fuel and immovable property in Punjab

Special ID fee on fuel and immovable property in Punjab
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CHANDIGARH: The Cabinet of Government of Punjab gave approval for levying special infrastructure development (special ID) fees on sale of petrol, diesel, and immovable property. The decision was taken on January 11, with the aim of giving further impetus to overall infrastructure development across the state. It is expected that this fee will yield an additional revenue of Rs 216.16 crore for the state.

According to the state government’s statement, it has been decided that the collection from special ID fee will be deposited in the development fund of Punjab Infrastructure Development Board. The government statement also clarified that the special ID fee is to be imposed at the rate of Rs 0.25 per litre each, on sale of petrol and diesel within the state, and the special ID fee at the rate of Rs 0.25 will also be levied for every 100 rupees of the value of purchase of immovable property within the state.

The cabinet meeting headed by Captain Amarinder Singh, Chief Minister of Punjab, gave approval for certain amendments in the Punjab Infrastructure (Development and Regulation) Act, 2002 as well. For the imposition of special ID fee, amendment is to be made in the existing provision through insertion of a new Section 25-A on levy of special fee.

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