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Business EconomyPosted at: Aug 7 2019 10:56PM


Petrol and diesel become costlier in Chhattisgarh

Raipur, Aug 7 (UNI) The petrol and diesel in Chhattisgarh are becoming costlier by around Rs 2.25 per litre since mid-night on Wednesday, following state government's decision to withdraw subsidy in VAT on petrol and diesel.
The notification issued in evening today by the commercial
tax department will come into force in the midnight. With
withdrawal of subsidy on VAT, petrol and diesel prices will
rise by around Rs 2.25 per litre.
Central government had given subsidy of Rs 2 per litre on
these fuel products since October last year and also
advised the states to give this much amount of subsidy at a
time when process for assembly elections in the state had
begun. Considering this advice the then BJP government in
the state had issued notification to reduce VAT from 25% to
21% on petrol which was effective till 31st March. The
period of this notification was, however, extended till
31st March 20.
According to commercial tax department the central
government had hiked petrol and diesel prices by Rs 2 per
litre in terms of excise duty and cess in July. With this
hike the central government levied excise duty and cess of
Rs 15.83 per litre on diesel and Rs 19.98 per litre on
petrol.
Currently the rate of excise duty and cess levied by the
central government is Rs 15.83 per litre on diesel and Rs
19.98 per litre on petrol whereas state was earning
significant amount from VAT.
The department claimed that despite withdrawal of subsidy
on VAT, the petrol and diesel prices in Chhattisgarh will
be below the prices in neighbouring states of Maharashtra,
Madhya Pradesh and Odisha because of low rate of VAT in
Chhattisgarh.
UNI AS-RK RJ 2255
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