{"id":453852,"date":"2021-12-03T11:29:26","date_gmt":"2021-12-03T05:59:26","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=453852"},"modified":"2021-12-03T11:29:26","modified_gmt":"2021-12-03T05:59:26","slug":"reduction-in-excise-costs-state-%e2%82%b91700-crore-mva-in-dilemma-over-reducing-vat-on-fuel","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reduction-in-excise-costs-state-%e2%82%b91700-crore-mva-in-dilemma-over-reducing-vat-on-fuel\/","title":{"rendered":"Reduction in excise costs state \u20b91,700 crore; MVA in dilemma over reducing VAT on fuel"},"content":{"rendered":"<p>While the Maharashtra government is under tremendous pressure for the reduction of the value-added tax (VAT) on petrol and diesel, the state is also in a fix over the losses it incurred due to the Central government\u2019s decision of reducing central taxes last month.<\/p>\n<p>After the Central government reduced its taxes on petrol and diesel by \u20b95 and \u20b910 ahead of Diwali on November 3, the state government\u2019s VAT, which is levied on an ad Valorem (according to value) basis automatically reduced by \u20b91.19 and \u20b92.41 a litre on petrol and diesel respectively. This has led to the estimated losses to the exchequer by around \u20b91,700 crore between November 2021 and March 2022.<\/p>\n<p>Losing business to neighbouring states<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the Maharashtra government is under tremendous pressure for the reduction of the value-added tax (VAT) on petrol and diesel, the state is also in a fix over the losses it incurred due to the Central government\u2019s decision of reducing central taxes last month. After the Central government reduced its taxes on petrol and diesel by \u20b95 and \u20b910 ahead of Diwali on November 3, the state government\u2019s VAT, which is levied on an ad Valorem (according to value) basis automatically reduced by \u20b91.19 and \u20b92.41 a litre on petrol and diesel respectively. This has led to the estimated losses [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,183],"tags":[],"class_list":["post-453852","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/453852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=453852"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/453852\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=453852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=453852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=453852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}