Maharashtra: Govt reduces Value Added Tax on petrol and diesel
The Maharashtra Government today reduced Value Added Tax (VAT) on petrol and diesel. Accordingly, the prices of petrol will be two rupees eight paise and diesel will be one rupee 44 paise cheaper, respectively.
In a tweet, the Maharashtra DGIPR said that the reduction in VAT on fuel prices will put a burden of 2500 crore rupees annually on the state’s exchequer.
Incidentally, the revenue collection on petrol and diesel will fall by Rs. 80 crore and Rs. 125 crore, respectively per month.