Mumbai: The state government on Thursday announced reduction in cess on petrol and diesel by Rs 5 and Rs 3 per litre respectively. The cut, made in a component of VAT, will come into effect from Thursday midnight. With this, petrol will cost Rs 106.31 per litre in the city and diesel Rs 94.27.
According to officials, the move would shrink the annual revenue from taxes on fuel, estimated at Rs 31,000 crore, by Rs 6,000 crore. CM Eknath Shinde said his government would ensure no development works are curtailed due to the revenue loss. Deputy CM Devendra Fadnavis termed the decision part of the Shiv SenaBJP government's commitment to people's welfare.
After coming to office, Shinde had announced that his government would lower VAT on petrol and diesel. "PM Modi had announced reduction in central taxes on fuel in November and in May and he had appealed to states to extend relief at their end too.
Many states had given relief, but Maharashtra did not pay heed," Shinde said.
Cut cess on fuel to give common man relief: CM
This story is from the July 15, 2022 edition of The Times of India Mumbai.
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This story is from the July 15, 2022 edition of The Times of India Mumbai.
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