Maharashtra cuts VAT on petrol & diesel prices after Centre slashes excise duty | Mumbai news

The move comes a day after the Center cut excise duty on petrol and diesel. 8 and 6 per liter respectively. Petrol and diesel prices have come down due to excise duty cuts 9.5 per liter and 7 per liter respectively.

The Maharashtra government on Sunday reduced the Value Added Tax (VAT) on petrol and diesel 2.08 per liter and 1.44 per liter, respectively. The reduction will be implemented immediately, the Maharashtra government said in a statement.

The move comes a day after the Center cut excise duty on petrol and diesel. 8 and 6 per liter respectively. Petrol and diesel prices have come down due to excise duty cuts 9.5 per liter and 7 per liter respectively.

Finance Minister Nirmala Sitharaman, who announced the excise duty cut, said the move would have an impact on income. 1 lakh crore per year to the government.

Following the announcement of the Finance Minister, Prime Minister Narendra Modi took to Twitter to say that decisions will always be made before the people of his government.

“Today’s decisions, particularly those related to the significant reduction in petrol and diesel prices, will positively affect various sectors, provide relief to our citizens and further ‘make life easier’,” the Prime Minister tweeted.

Earlier, the Rajasthan government had reduced the VAT on petrol 2.48 per liter and Chief Minister Ashok Gehlot tweeted: 1.16 per liter on diesel.

On the other hand, Kerala’s Finance Minister KN Balagopal has said the government has no plans to cut sales tax on fuel. It comes just a day after the minister’s statement that the government would reduce taxes on petrol 2.41 per liter and by diesel 1.36 per liter But the opposition accused the minister of misleading people. “We have not increased fuel taxes in the last six years. The state cannot reduce taxes at this stage, ”he said.

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