SRINAGAR, NOVEMBER 04: In a significant decision, the Government today reduced the rate of tax and cess on Motor Spirit (petrol) and Diesel oil from today.
A notification issued in this regard said, “In exercise of the powers conferred by Section 3 and 3A of the Jammu and Kashmir Motor Spirit and Diesel oil (Taxation of Sales) Act, Samvat 2005 and in supersession of all the previous notifications on the subject, the government hereby direct that tax and cess on sale of Motor Spirit (petrol) and Diesel oil shall be levied at the rate as shown against each in columns 3 and 4 of the table given below:
| S.No | Name of the Commodity | Rate of Tax | Cess |
| 1 | 2 | 3 | 4 |
| 1 | Motor Spirit (petrol) | 24% minus
Rs. 4.5/litre |
Rs. 2/litre |
| 2 | Diesel oil | 16% minus
Rs. 6.5/litre |
Rs. 1/litre |