Gujarat reduces VAT on fuel by Rs 2.5 per litre
Thursday - October 4, 2018 8:56 pm ,
Category : BUSINESS
Gandhinagar Oct 4 (IANS) Within hours of the Centre announcing a cut in fuel prices the Gujarat government on Wednesday followed suit by announcing a matching tax cut of Rs 2.5 per litre in the prices of petrol and diesel.
Gujarat Chief Minister VIjay Rupani announced in Twitter "...reciprocating positively to FM s announcement the Govt of Gujarat has also decided to reduce Rs 2.50 on both petrol & diesel. Thus petrol & diesel would be Rs 5 cheaper in the state of Gujarat."
Earlier in the day Union Finance Minister Arun Jaitley had announced a Rs 1.5 per litre reduction in excise duty and Re 1 per litre reduction by oil marketing companies adding up to a total of Rs 2.5 per litre reduction on auto fuels by the Centre.
Later Gujarat Deputy Chief Minister Nitin Patel told reporters that the state had decided to reduce value-added tax (VAT) on the auto fuels effective Thursday midnight.
"We had earlier reduced VAT (value added tax) by 4 per cent in 2017. Currently the VAT on petrol in the state stands at 20 per cent " Patel said.
He added that this would pose a burden of Rs 1 800 crore to Rs 2 000 crore on the state exchequer.
--IANS desai/nir
Gujarat Chief Minister VIjay Rupani announced in Twitter "...reciprocating positively to FM s announcement the Govt of Gujarat has also decided to reduce Rs 2.50 on both petrol & diesel. Thus petrol & diesel would be Rs 5 cheaper in the state of Gujarat."
Earlier in the day Union Finance Minister Arun Jaitley had announced a Rs 1.5 per litre reduction in excise duty and Re 1 per litre reduction by oil marketing companies adding up to a total of Rs 2.5 per litre reduction on auto fuels by the Centre.
Later Gujarat Deputy Chief Minister Nitin Patel told reporters that the state had decided to reduce value-added tax (VAT) on the auto fuels effective Thursday midnight.
"We had earlier reduced VAT (value added tax) by 4 per cent in 2017. Currently the VAT on petrol in the state stands at 20 per cent " Patel said.
He added that this would pose a burden of Rs 1 800 crore to Rs 2 000 crore on the state exchequer.
--IANS desai/nir
