The Chhattisgarh government on Monday lowered the Value Added Tax (VAT) on petrol and diesel by 1 per cent and 2 per cent, respectively. The decision was taken during the cabinet meeting chaired by Chief Minister Bhupesh Baghel, a government official said.
This will result in an annual revenue loss of nearly Rs 1,000 crore to the state exchequer.
The decision comes after the Central government reduced the excise duty on petrol and diesel prices by Rs. 5 and Rs10 respectively.
“Providing major relief to the people of the state. Chief Minister Bhupesh Baghel-led cabinet has decided to cut the prices of petrol and diesel. VAT on diesel and petrol has been reduced by 2 per cent and 1 per cent respectively. The state government will bear the loss of about Rs 1,000 cr..” the Chief Minister's Office (CMO) tweeted.
(with PTI inputs)
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