Price of petrol and diesel will rise by Rs 2 from tomorrow, vehicle tax and land transaction costs will increase

THIRUVANANTHAPURAM: The new budget proposals will come into effect in the state from tomorrow. Fuel price, land price, building tax, vehicle tax, Indian-made foreign liquor etc. will all cost more. Costing and new reforms will be implemented in various service sectors from tomorrow.

The most important is the increase in the price of petrol and diesel due to the introduction of social security cess. Cess of Rs 2 per litre has been introduced. Presently Kerala has an increase of Rs 4 in fuel price with Tamil Nadu and Karnataka. As this increases again, it is a setback that most of the vehicles at the borders may go to refuel in other states. Initially it was heard that one rupee may be reduced, but the government clarified that they have no intention to do so.

There will be a 20 % increase in the fair value of land. Registration will cost more. The rate of transfer of apartments and flats within six months of construction will be from five percent to seven percent. Liquor to cost more. Indian-made foreign liquor priced between Rs 500 and Rs 999 will cost Rs 20 more per bottle. Social security cess is Rs 40 if above Rs 1000.

Meantime, private buses and contract carriage buses in the state have a 10 percent discount on the tax to be paid during three months. There is no building tax for a BPL family living in a 30 square meter house. Houses below 60 square meters will also get a tax break.

UPI services are charged for prepaid wallet services from the account. Business users who make transfers above Rs 2,000 will be charged an interchange fee of 1.1 percent. Similarly, an amendment to the Motor Vehicle Act will come into effect tomorrow, which will impose restrictions on the sale of second-hand vehicles.