Just a day after central authorities introduced discount in excise obligation on petrol and diesel, Maharashtra authorities has gone on to scale back VAT on petrol by Rs. 2.08 and on diesel by Rs. 1.44.
Following a 2 month lengthy achieve on the costs of petrol and diesel, central authorities introduced a discount in excise obligation on petrol by ₹ 8 per liter and diesel by ₹ 6 per litre. Union Finance Minister Nirmala Sitharaman additionally added that it will convey down the costs of petrol by ₹ 9.5 per liter and that of diesel by ₹ 7 per liter.
However, Chief Minister of Maharashtra Uddhav Thackeray claimed that this discount in excise obligation was not sufficient, and extra wanted to be finished. Following this, Maharashtra authorities has introduced that it is going to be lowering the Value Added Tax (VAT) on petrol by ₹ 2.08 per liter and that on diesel by ₹ 1.44 per litre.
This discount will convey down the costs of petrol in Mumbai to ₹ 109.27 per litre, whereas diesel can be priced at ₹ 95.84 per litre. As a results of this discount in VAT, Maharashtra authorities is predicted to lose round ₹ 80 crore on taxes from petrol and ₹ 125 crore on taxes from diesel each month.
Rajasthan authorities and Kerala authorities additionally introduced discount in VAT, with the VAT in Rajasthan on petrol taking place by ₹ 2.48 per litre and the identical on diesel taking place by ₹ 1.16 per litre, whereas the Kerala authorities decreased VAT by ₹ 2.41 per liter for petrol and ₹ 1.36 for diesel.
With inputs from NDTV