A day after the Centre reduced excise duty on fuel, several state governments reduced the Value Added Tax (VAT) on petrol and diesel. On Saturday, the Centre had cut excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre to give relief to consumers battered by high fuel prices that have also pushed inflation to a multi-year high.
The excise duty cut would translate into a reduction of Rs 9.5 a litre on petrol and Rs 7 a litre on diesel after taking into account its impact on other levies.
After the Central government’s decision to cut excise duty, several state governments slashed VAT on petrol and diesel.
In an exclusive interview with India Today's Rajdeep Sardesai on News Today, Tamil Nadu's Finance Minister Palanivel Thiagarajan talks about the reduction of VAT on petrol and diesel. Watch here:
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