Fuel Price In States: By cutting oil prices from Saturday night, the central government gave great relief to the people suffering from inflation. The Center has cut the prices of petrol, diesel as well as gas cylinders. After this step, which cut the excise duty of the Modi government, many states have also done the work of giving relief to the public and have cut VAT. After the reduction of VAT by the states, there has been a huge difference in the prices of petrol and diesel. At the same time, crude oil reached the price of $ 113 per barrel in the global market. Its pressure on oil companies has increased.
Well, now let’s talk about those states which have reduced VAT in their state and have done the work of providing relief to the people suffering from inflation. First of all, Kerala had implemented this decision. Kerala had cut VAT on Saturday itself. After that Rajasthan then Maharashtra has cut VAT. So the Jharkhand government has refused to cut VAT. Finance Minister Rameshwar Oraon says that the petrol subsidy scheme is already effective in Jharkhand. He clearly said that the state government is not considering directly reducing the rates of VAT.
Maharashtra government reduced VAT on Sunday
The Maharashtra government on Sunday reduced the Value Added Tax (VAT) on petrol and diesel by Rs 2.08 per liter and Rs 1.44 per liter. The Maharashtra government statement said that the cut will be implemented with immediate effect. This move of the Maharashtra government comes a day after the Center reduced the excise duty on petrol and diesel by Rs 8 and Rs 6 per liter. After the reduction in VAT, the Maharashtra government is expected to incur a loss of about Rs 80 crore on petrol and Rs 125 crore on diesel every month. Accordingly, the government will have a revenue loss of about Rs 2,500 crore annually. After the reduction in excise duty in Mumbai and the decision to reduce VAT, the price of one liter of petrol has gone up to Rs 109.27 and one liter of diesel to Rs 95.84.
Rajasthan and Kerala have reduced VAT
Earlier in the day, the Rajasthan government had announced reduction of VAT on petrol by Rs 2.48 per liter and on diesel by Rs 1.16 per liter. The Kerala government has also cut state tax of Rs 2.41 on petrol and Rs 1.36 on diesel. Petrol and diesel prices have come down by Rs 9.5 per liter and Rs 7 per liter due to reduction of custom duty by the Centre. Now the states have also started reducing VAT, due to which the prices of petrol and diesel have come down even more in those states.