Vat On Fuel

The Punjab Cabinet on Thursday gave approval to hike value-added tax (VAT) on petrol and diesel by 61 paise a litre and 92 paise per litre, respectively.

Petrol and diesel could be taxed under GST (Goods and Services Tax) rather than VAT (Value Added Tax) if state governments agree to the proposal and fix a suitable rate, Finance Minister Nirmala Sitharaman told NDTV Profit Friday.

More than 6,300 petrol pumps in Rajasthan remained closed from 10 am to 6 pm on Wednesday as part of a strike called by operators against high Value Added Tax (VAT) on diesel and petrol.

Fuel pumps will remain closed from 10 am to 6 pm on Wednesday and Thursday across the state, as the Rajasthan Petroleum Dealers Association has called for a strike to protest high value-added tax (VAT) rate on fuel.

The Punjab government increased the Value-Added Tax (VAT) on fuel by 10% on Sunday, leading to an increase in the price of petrol and diesel in the state by 92 paise per litre and 88 paise per litre, respectively.

The Gujarat government earned Rs 38,730 crore from value-added tax (VAT) and cess on petrol, diesel, CNG and PNG in the last two years, the state legislative Assembly was informed on Monday.

Uttar Pradesh Chief Minister Yogi Adityanath on Friday said that keeping in mind the larger public interest, the government has neither increased the VAT and nor has imposed any new tax in the state.

Maharashtra Chief Minister Eknath Shinde said his government will complete his term, and the alliance with the BJP will win 200 seats in the next Assembly polls.

Maharashtra will reduce the Value Added Tax or VAT on fuel, effectively bringing down the prices in the state, Eknath Shinde said today in a big populist move as the new Chief Minister of Maharashtra.

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said a cut in VAT on fuel will help soften inflationary pressures as well as expectations.

Finance ministry has not yet taken a view on the civil aviation ministry's plea for tax cuts on jet fuel or aviation turbine fuel to bring down prices

Following the reduction of central excise duty a few states have now additionally announced a reduction of VAT (Value Added Tax) on petrol and diesel, namely Maharashtra, Kerala, and Rajasthan.

Just a day after central government announced reduction in excise duty on petrol and diesel, Maharashtra government has gone on to reduce VAT on petrol by Rs. 2.08 and on diesel by Rs. 1.44.

The average price of crude oil (Indian basket) in May so far (till May 19) has remained high at $107.26 per barrel

Fuel Prices Cut: Senior Congress leader P Chidambaram today said whether the states can afford to give up revenue from VAT on petrol and diesel unless the Centre devolves more funds or gives them more grants.

The Punjab Cabinet on Thursday gave approval to hike value-added tax (VAT) on petrol and diesel by 61 paise a litre and 92 paise per litre, respectively.

Petrol and diesel could be taxed under GST (Goods and Services Tax) rather than VAT (Value Added Tax) if state governments agree to the proposal and fix a suitable rate, Finance Minister Nirmala Sitharaman told NDTV Profit Friday.

More than 6,300 petrol pumps in Rajasthan remained closed from 10 am to 6 pm on Wednesday as part of a strike called by operators against high Value Added Tax (VAT) on diesel and petrol.

Fuel pumps will remain closed from 10 am to 6 pm on Wednesday and Thursday across the state, as the Rajasthan Petroleum Dealers Association has called for a strike to protest high value-added tax (VAT) rate on fuel.

The Punjab government increased the Value-Added Tax (VAT) on fuel by 10% on Sunday, leading to an increase in the price of petrol and diesel in the state by 92 paise per litre and 88 paise per litre, respectively.

The Gujarat government earned Rs 38,730 crore from value-added tax (VAT) and cess on petrol, diesel, CNG and PNG in the last two years, the state legislative Assembly was informed on Monday.

Uttar Pradesh Chief Minister Yogi Adityanath on Friday said that keeping in mind the larger public interest, the government has neither increased the VAT and nor has imposed any new tax in the state.

Maharashtra Chief Minister Eknath Shinde said his government will complete his term, and the alliance with the BJP will win 200 seats in the next Assembly polls.

Maharashtra will reduce the Value Added Tax or VAT on fuel, effectively bringing down the prices in the state, Eknath Shinde said today in a big populist move as the new Chief Minister of Maharashtra.

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said a cut in VAT on fuel will help soften inflationary pressures as well as expectations.

Finance ministry has not yet taken a view on the civil aviation ministry's plea for tax cuts on jet fuel or aviation turbine fuel to bring down prices

Following the reduction of central excise duty a few states have now additionally announced a reduction of VAT (Value Added Tax) on petrol and diesel, namely Maharashtra, Kerala, and Rajasthan.

Just a day after central government announced reduction in excise duty on petrol and diesel, Maharashtra government has gone on to reduce VAT on petrol by Rs. 2.08 and on diesel by Rs. 1.44.

The average price of crude oil (Indian basket) in May so far (till May 19) has remained high at $107.26 per barrel

Fuel Prices Cut: Senior Congress leader P Chidambaram today said whether the states can afford to give up revenue from VAT on petrol and diesel unless the Centre devolves more funds or gives them more grants.