Just a day after central government announced reduction in excise duty on petrol and diesel, Maharashtra government has gone on to reduce VAT on petrol by Rs. 2.08 and on diesel by Rs. 1.44.
| Published:
1,841 Views
Following a 2 month long gain on the prices of petrol and diesel, central government announced a reduction in excise duty on petrol by ₹ 8 per litre and diesel by ₹ 6 per litre. Union Finance Minister Nirmala Sitharaman also added that this will bring down the prices of Petrol by ₹ 9.5 per litre and that of diesel by ₹ 7 per litre.
However, Chief Minister of Maharashtra Uddhav Thackeray claimed that this reduction in excise duty was not enough, and more needed to be done. Following this, Maharashtra government has announced that it will be reducing the Value Added Tax (VAT) on petrol by ₹ 2.08 per litre and that on diesel by ₹ 1.44 per litre.
This reduction will bring down the prices of petrol in Mumbai to ₹ 109.27 per litre, while diesel will be priced at ₹ 95.84 per litre. As a result of this reduction in VAT, Maharashtra government is expected to lose around ₹ 80 crore on taxes from petrol and ₹ 125 crore on taxes from diesel every month.
Rajasthan government and Kerala government also announced reduction in VAT, with the VAT in Rajasthan on petrol going down by ₹ 2.48 per litre and the same on diesel going down by ₹ 1.16 per litre, whereas the Kerala government reduced VAT by ₹ 2.41 per litre for petrol and ₹ 1.36 for diesel.
0 Comments
For the latest auto news and reviews, follow carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.