Rajasthan cuts VAT on petrol and diesel prices, new rates effective midnight
Rajasthan chief minister Ashok Gehlot on Tuesday said that the state cabinet had decided to reduce the value-added tax (VAT) on petrol and diesel prices by ₹4 and ₹5, respectively. The new prices will be effective from the midnight of November 16, the chief minister added.
In a post from his official handle, Gehlot tweeted, “In the Cabinet meeting today, it was unanimously decided to reduce the rate of VAT on petrol/diesel. From 12 o’clock tonight, the rates will be reduced by ₹4 per liter for petrol and ₹5 per liter for diesel.”
The decision to cut the VAT on petrol and diesel prices has cost the state government a loss of ₹3,500 crore in the annual revenue, the chief minister added. “Due to this, the state government will incur a loss of ₹3,500 crore in annual revenue,” Gehlot said in a subsequent tweet.
