Maharashtra cuts VAT on petrol, diesel; calls it 'Diwali gift'

On Rs 26.7/litre you pay tax of Rs 44 here's how Daily revision of petrol price explained

The new development comes as a huge relief for the people in the state with petrol prices hovering close to Rs 80 per litre.

Gujarat Chief Minister Vijay Rupani informed that the Value-Added Tax on fuel will be cut by 4 percent. The effective price of petrol in Gujarat from mid-night today will be Rs 67.53 per litre and that of diesel Rs 60.77 per litre, the chief minister said.

The two BJP-ruled states announced the tax reduction on petrol and diesel after union finance minister Arun Jaitley recently wrot to all state governments nudging them to reduce taxes on petrol and diesel.

"All the states have given the permission to bring petrol and diesel under GST".

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The cabinet also made a decision to set up the state human rights commission with Himachal Pradesh High Court's former Chief Justice Jagdish Bhalla as its Chairperson and former journalist K.S Tomar, who is also a former state Public Service Commission chairman, as its member. "Because of a cut in excise duty and drop in global prices, fuel prices have turned advantageous for consumers", he said.

The prudent thing to do is to reduce expenditure of the State government for which guidelines have been issued to all the departments. "While base price of petrol and diesel in Bihar stands at INR 55 a litre, the same is INR 51 a litre in Jharkhand".

Soon after the announcement by the BJP government in Gujarat, CM Fadnavis-led BJP government in Maharashtra too slashed Value-Added Tax prices on petrol and diesel.

While Madhya Pradesh and Karnataka are still discussing the possibility of cutting taxes on fuel, non-BJP-ruled States of Kerala and Odisha have objected to the Centre's suggestion to lower VAT, terming it "unfavourable" to implement. "Revenue loss on a/c of these reductions in excise duty is about Rs.26,000 crore in full year and Rs 13,000 crore in remaining part of the current financial year".

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