Karnataka announces cutting VAT on petrol, diesel by Rs 7
Nov 03, 2021
New Delhi [India], November 3 : After Goa, Tripura and Assam made similar announcements, the Karnataka government on Wednesday announced that it will reduce the Value Added Tax (VAT) on petrol and diesel by Rs 7 from tomorrow.
Chief Minister Basavaraj Bommai took to Twitter to announce the decision today.
In a significant decision, the Centre on Wednesday reduced excise duty on petrol and diesel to bring down the prices of the two petroleum products which had been seeing an upward trend.
The relief to consumers came on the eve of Diwali. The Finance Ministry said that excise duty on petrol will come down by Rs 5 and that on diesel by Rs 10 and it will be effective from Thursday.
It urged the states "to commensurately reduce" VAT on petrol and diesel to give relief to consumers.
