Uttar Pradesh slashes VAT on petrol and diesel
The Uttar Pradesh government on Wednesday slashed Value Added Tax (VAT) on petrol and diesel to bring down their prices. The move came as the Centre reduced excise duty by ₹5 per litre on petrol and ₹10 a litre on diesel amid spiralling fuel prices while urging states to further bring down the rates.
A state official said the reduction in the levies will overall bring down the fuel prices by ₹12 per litre in Uttar Pradesh.
Chief minister Yogi Adityanath earlier indicated the reduction at a meeting on VAT on October 28. The state government imposed a VAT of 26.8% or ₹18.74 per litre, whichever was higher, on petrol and 48% or ₹10.41 per litre, whichever was higher, on diesel.
