Excise move brings down VAT in Maha, Rai, Kerala
Hindustan Times|May 23, 2022
The value-added tax on auto fuels in Maharashtra, Rajasthan and Kerala was reduced on Sunday following a cut in excise duty by the central government, even as some states cited additional strain on revenues.
Excise move brings down VAT in Maha, Rai, Kerala

Though the Maharashtra government issued a statement on Sunday saying it reduced the VAT by 22.08 a litre on petrol and 1.44 a litre on diesel, it later clarified that "the reduction was reflected naturally because of the ad valorem system of taxation".

"It will lead to annual losses of 2,500 crore to the state exchequer," said Manoj Saunik, additional chief secretary, state's finance department.

Union finance minister Nirmala Sitharaman on Saturday announced a record ₹8 per litre cut in excise duty on petrol and 6 a litre on diesel to rein in soaring fuel prices owing to a surge in international crude prices amid Russia's war on Ukraine.

The minister also urged states to reduce VAT on petroleum products to give relief to the common man. "I wish to exhort all state governments, especially the states where the reduction wasn't done during the last round (November 2021), to also implement a similar cut and give relief to the common man," she said.

This story is from the May 23, 2022 edition of Hindustan Times.

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This story is from the May 23, 2022 edition of Hindustan Times.

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