The Delhi government has sharply cut VAT levied on petrol by Rs 8 per litre. It will now cost just over Rs 95 per litre in the national capital.
The Delhi government has announced a sharp reduction in value added tax (VAT) levied on petrol to provide relief to citizens.
Petrol price became cheaper by Rs 8 per litre in the national capital after the Delhi cabinet, led by Chief Minister Arvind Kejriwal, decided to reduce value added tax (VAT) after a meeting on Wednesday.
After the fresh cut, a litre of petrol will cost just over Rs 95 in the national capital. The Delhi government’s move comes after the central government cut excise duty on petrol and diesel last month in a bid to provide relief to citizens.
It may be noted that in the first week of November, the Centre reduced excise duty on petrol by Rs 5 per litre and on diesel by Rs 10 per litre.
It is worth mentioning that the Delhi government has reduced VAT on petrol from 30 per cent to 19.40 per cent, leading to a sharp reduction in petrol price from Rs 103.97 to Rs 95.97.
The sharp cut in VAT will provide much-needed relief to citizens in the national capital as they have been paying over Rs 100 for a litre of fuel for months.
While the Delhi government has slashed VAT on petrol, no such decision has been taken for diesel rates. A litre of diesel costs Rs 86.67 in the national capital as of today.
