VAT Cut on Petrol-Diesel Price: After reducing the excise duty on petrol and diesel by the central government, now the states are starting to reduce VAT. First of all, VAT has been deducted in Kerala. The Kerala government has announced a VAT reduction of Rs 2.41 per liter on petrol. At the same time, VAT on diesel has been cut by Rs 1.36 per liter.
After the decision of the Central Government to reduce the excise duty, the pressure has come on all the states that they should also cut VAT to give relief to the common people. Some other states have also started implementing this. This can be expected from the rest of the states in the coming days.
11.91 in Kerala Petrol will get cheaper by Rs.
After the relief from the Center, for the people of Kerala, a total of 9.5 + 2.41 = 11.91 rupees per liter in petrol will be cheaper. Similarly, Rs 8.36 has been reduced on diesel as well. Because, before the state government, diesel became cheaper by Rs 7 due to the decision of the central government.
excise duty cut in
Earlier on Saturday, the central government has reduced the excise duty by Rs 8 on petrol and Rs 6 on diesel. After this petrol will get cheaper by Rs 9.5 per liter. At the same time, diesel will also be cheaper by Rs 7 per liter. Finance Minister Nirmala Sitharaman tweeted that the government has decided to reduce the central excise duty.
New prices will be applicable from tonight
The new prices of petrol and diesel will be applicable from 12 o’clock on Saturday night. Recently, PM Modi had advised the states to reduce the excise duty and VAT to give relief to the people from inflation. Nirmala Sitharaman said- We also expect the states, which have not made any cut since November 2021, they will also give some relief to the general public.
read this also
Mutual Fund Update: Know which are such superhit funds which give good profits in the market of recession as well as boom
LIC Home Loan: Home people will get low rates, here is the complete information about the scheme