Goa petrol, diesel dealers face Rs 6-crore loss after excise duty, VAT cut

The sudden cut in excise duty and value-added tax on petrol and diesel on Diwali eve by the Centre and the Goa government has resulted in a loss of around Rs 6 crore for dealers of the two fuels in the state, a senior official from the industry said on Friday.

All Goa Petrol Pump Dealers’ Association President Paresh Joshi told PTI that all the 130 dealers in the state have suffered a cumulative loss of around Rs 6 crore. He said oil companies had asked the dealers to keep their tanks full on the eve of Diwali as filling terminals would be closed for the next two days.