Guj, M'rashtra, HP cut VAT on petrol, diesel

Guj, M'rashtra, HP cut VAT on petrol, diesel

BJP-ruled states, poll-bound Gujarat as well as Maharashtra on Tuesday announced a cut in VAT on petrol and diesel.

Himachal Pradesh also decided to cut VAT by 1% on petrol and diesel.

Gujarat reduced VAT by 4 %, while in Maharashtra the reduction will bring down price of petrol by Rs 2 a litre and diesel by Re 1.

“With the reduction in VAT, price of petrol will be cut by Rs 2.93 a litre and that of diesel by Rs 2.72 a litre,” Gujarat Chief Minister Vijay Rupani told mediapersons.

Earlier, Gujarat had cut prices of auto fuels by 60 paise soon after the Centre’s decision to reduce basic excise duty by Rs 2 a litre from October 4.

“It is a Diwali gift to the people of Maharashtra,” finance, planning and forest minister Sudhir Mungantiwar said after a Cabinet meeting. “The decision to reduce VAT will cause an annual revenue loss of Rs 3,000 crore to the state exchequer.We are ready to bear the additional burden.”

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