Raipur | Jagran Business Desk: Petrol and diesel prices have been cut in the state of Chhattisgarh with immediate effect, as the Bhupesh Baghel government announced the cut in VAT rates. The Value Added Tax (VAT) on petrol has been decreased by 1 per cent in the state whereas the VAT on diesel has been decreased by 2 per cent.

In the cabinet meeting of Chhattisgarh government, the decision was taken to decrease the VAT rates of petrol by 1 per cent. “The state government will bear the loss of Rs 1,000 Crore,” Chief Minister Office of Chhattisgarh informed in a tweet in Hindi.

The central government on November 3 had reduced the excise duty on petrol and diesel by 5 and 10 respectively and also urged the states to reduce VAT to give further relief to consumers all across the country

Following the announcements on reduction of excise duty on petrol and diesel, majority of the states, other than Maharashtra, NCT of Delhi, West Bengal, Tamil Nadu, Telangana, Andhra Pradesh, Kerala and Jharkhand, have reduced the VAT rates as well to give further relief to consumers. Chhattisgarh on Monday became the latest state to reduce VAT rates.

Posted By: Mukul Sharma