Delhi VAT Act Amended: Petrol Price Increases Post-June 3, 2012, Excluded from Sale Price Until Further Notice

The Delhi Value Added Tax (Third Amendment) Act, 2012, amends the Delhi Value Added Tax Act, 2004. This amendment, effective upon notification by the government, modifies section 2 to address changes in petrol pricing. Specifically, increases in petrol prices from June 3, 2012, will not be included in the sale price of petrol until further government notification or if the price drops below the June 3, 2012 level. If prices rise further, the amendment does not apply to those increases. The amendment ensures the benefits are passed to consumers if petrol prices decline but remain above the pre-June 3, 2012 level.