Maharashtra cuts VAT on petrol and diesel

A day after the center reduced excise duty on fuel, the Shiv Sena-led Maharashtra government on Sunday lowered VAT on petrol by Rs 2.08 per liter and diesel by Rs 1.44 per liter.

A statement issued by the government said the Treasury will have to bear an annual loss of Rs 2,500 crore as a result of this decision.

After reducing the VAT on petrol and diesel, the turnover per month from petrol will be reduced by DKK 80 million. Rs, while revenues from diesel by 125 mill. Rs.

The central government on Saturday announced a record reduction of 8 Rs per. liters in excise duty on petrol and 6 Rs reduction on diesel.