Maharashtra Becomes 3rd State to Slash VAT on Fuel Price After Govt Cuts Excise Duty. Details here

A day after the Finance Minister Nirmala Sitharaman took to twitter to report that the Indian Government had chosen to cut the extract obligation on petroleum and diesel costs, the Maharashtra government declared that they will decrease the Value Added Tax (VAT) by Rs. 2.08 for Petrol per liter and ₹1.44 for diesel per liter with prompt impact.

Maharashtra becomes 3rd state to slash VAT on fuel price after govt cuts excise duty.

The Maharashtra government is supposed to month to month lose ₹80 crore on petroleum and ₹125 crore on diesel following the decrease in VAT. The public authority will bear an income deficiency of ₹2,500 crore every year.

In Mumbai after the decrease of extract obligation and state’s choice to diminish VAT, one liter of petroleum will cost ₹109.27 and a liter of diesel ₹95.84

Boss Minister Uddhav Thackeray on Saturday had guaranteed that the Center’s transition to diminish extract obligation on petroleum by ₹8 per liter and on diesel by ₹6 per liter was sufficiently not.

Finance Minister Nirmala Sitharaman on Saturday reported a ₹8 per liter cut in extract obligation on petroleum and ₹6 a liter on diesel.

Prior, the Rajasthan government decreased Value-added charge (VAT) on petroleum by ₹2.48 per liter and diesel by ₹1.16 per liter. With this, petroleum will be less expensive by ₹10.48 and diesel by ₹7.16 per liter in the state.

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The Kerala government additionally quit raising government expenditures on petroleum and diesel by ₹2.41 and ₹1.36 individually.

Karnataka Chief Minister Basavaraj Bommai on Sunday said that his administration will consider additionally quit raising in fuel charge.

Ajay Rajbhar

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