A day after Centre cut excise duty on petrol and diesel, the Maharashtra government on Sunday slashed VAT on fuel. The government added that the state will have to bear an additional loss of Rs 2,500 for this move.
Rajasthan and Kerala governments announced a tax reduction in prices of petrol and diesel after the Centre's announcement on the same.
Congress General Secretary Randeep Surjewala on Saturday slammed the Central government's decision to reduce prices of petrol and diesel
Chief Minister Charanjit Singh Channi made the announcement while addressing the media after the cabinet meeting. "We are reducing petrol rate by Rs 10 per litre and diesel rate by Rs 5 per litre from midnight," CM Channi said.
"The state government has decided to reduce the VAT by Rs 7 and Rs 2 respectively on petrol and diesel," Additional Chief Secretary Navneet Sehgal said
Petrol is now being retailed at Rs 90.40 a litre in Delhi, down from previous day's level of Rs 90.56 a litre
In Delhi, the price of petrol was slashed to ₹ 81.86 from ₹ 81.99 per litre and diesel rates were lowered to ₹ 72.93/litre from ₹ 73.05 per litre, according to notifications by the state-run Indian Oil Corporation, the country's largest fuel retailer.
A day after the government increased excise duty by Rs 3, Petrol and diesel prices have been cut by 12 paise and 14 paise per litre as oil companies moderated rate reduction amid the fall in global prices to absorb the hike in excise duty on fuel by the government.
Fuel prices dropped further after international crude oil went into a free fall due major slump in demand following the global outbreak of coronavirus epidemic. The price of petrol was cut by 24-27 paise a litre and that of diesel by 25-26 a litre across all major cities in the country on Monday.
Fuel prices dropped for the second consecutive day on Friday as price of petrol was cut by 14-15 paise and that of diesel by 15-16 paise across all major cities in the country.
Petrol prices were cut by 13 paisa per litre, while diesel prices were down by 12 paisa per litre in Delhi, Kolkata, Mumbai and Chennai.
Likewise, in Mumbai, for petrol and diesel, you have to pay Rs 84.68 per litre (decrease by Rs 0.18) and Rs 77.18 per litre (decrease by Rs 0.14), respectively.
Patna: The Centre will soon write to the states to bring uniformity in the Value Added Tax (VAT) on oil products so that benefits of price cuts filter down to the masses, Union Petroleum and
Chandigarh: The reduction in prices of petrol and diesel may have brought cheers to consumers, but the cut is likely to cause tax revenue loss of up to Rs 35 crore to the state exchequer
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