Centre will ask states to cut VAT on petrol, diesel: MoS Finance Bhagwat Karad

Union Minister of State for Finance Bhagwat Karad Thursday said the prices of diesel and petrol will decline further provided state governments reduce the Value Added Tax (VAT). The Centre will write letters to all state governments to reduce VAT on petrol and diesel prices to provide further relief to consumers in their respective states, he said.

“The Centre has taken the decision to reduce excise duty on petrol and diesel prices. The decision will be implemented from Thursday. The decision will bring down petrol and diesel prices per litre by Rs 5 and Rs 10, respectively,” Karad said while speaking to the media.