Rajasthan cuts VAT on petrol and diesel prices, new rates effective midnight

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Earlier in November, in a significant decision, the Centre reduced excise duty on petrol and diesel to bring down the prices of the two petroleum products which had been seeing an upward trend

Rajasthan chief minister Ashok Gehlot on Tuesday said that the state cabinet had decided to reduce the value-added tax (VAT) on petrol and diesel prices by 4 and 5, respectively. The new prices will be effective from the midnight of November 16, the chief minister added.

In a post from his official handle, Gehlot tweeted, “In the Cabinet meeting today, it was unanimously decided to reduce the rate of VAT on petrol/diesel. From 12 o’clock tonight, the rates will be reduced by 4 per liter for petrol and 5 per liter for diesel.”

The decision to cut the VAT on petrol and diesel prices has cost the state government a loss of 3,500 crore in the annual revenue, the chief minister added.

Earlier in November, in a significant decision, the Centre reduced excise duty on petrol and diesel to bring down the prices of the two petroleum products which had been seeing an upward trend. The relief to consumers came on the eve of Diwali. The Finance Ministry said that excise duty on petrol will come down by 5 and that on diesel by 10. It urged the states “to commensurately reduce” VAT on petrol and diesel to give relief to consumers.

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