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Chhattisgarh reduces VAT on petrol, diesel

The decision was taken during the cabinet meeting chaired by Chief Minister Bhupesh Baghel, a government official said.

India TV News Desk Edited by: India TV News Desk
New Delhi Updated on: November 22, 2021 15:40 IST
Chhattisgarh govt announces reduction of VAT on petrol, diesel
Image Source : PTI

Chhattisgarh govt announces reduction of VAT on petrol, diesel

Highlights

  • The Chhattisgarh government has announced the reduction of VAT for petrol and diesel prices.
  • The state government has reduced VAT on petrol by 1%, diesel by 2%.
  • The move will cause a loss of nearly Rs 1,000 crore to the state exchequer.

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)

ALSO READ: Rajasthan: Petrol gets cheaper by Rs 4 per litre, diesel by Rs 5

ALSO READ: Petrol price cut by Rs 10, diesel by Rs 5 per litre in Punjab

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