Hours after the Center reduced the excise duty on petrol and diesel, Himachal Pradesh Chief Minister Jai Ram Thakur today announced that the state government has also reduced the Value Added Tax (VAT) on petrol and diesel.
‘Petrol will be cheaper now’ ₹by 12 and diesel ₹Rs 17 per liter in the state,” the Himachal Pradesh CM wrote in Hindi on Twitter.
“This decision will bring great relief to the people of the state,” he said.
In a significant decision, the Center has reduced excise duty on petrol and diesel to bring down the prices of two petroleum products, which were seeing an upward trend.
Relief to consumers came on the eve of Diwali. Finance Ministry said that excise duty on petrol will be reduced ₹5 And That On Diesel ₹10 and it will be effective from Thursday. It urged states to “proportionately reduce” VAT on petrol and diesel to provide relief to consumers.
VAT rates vary from state to state, leading to differences in fuel rates.
On Thursday, the price of petrol was cut in the range of ₹from 5.7 ₹6.35 per liter and diesel price across the country ₹from 11.16 ₹As of 12.88 oil companies reduced excise duty rates to consumers by a record.
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
.