Haryana Cabinet Minister Captain Abhimanyu Singh said that Value Added Tax (VAT) on petroleum products in the state is the lowest when compared to other states.
Addressing media at an event organized by the PHD Chambers of Commerce and Industry, Singh said that even after other states cut down VAT by five percent, Haryana still charges the least amount of VAT on petroleum products.
Earlier, Union Petroleum and Natural Gas Minister Dharmendra Pradhan had said, "Considering the interests of the consumers, the Government of India has reduced excise duty on petrol and diesel by Rs. 2 per litre. We have appealed to all state governments to cut Value Added Tax (VAT) by five per cent on petroleum products."
The Centre reduced the basic excise duty rate on petrol and diesel to cushion the impact of the rise in international crude prices.
Currently, an excise duty component of Rs. 21.48 per litre is levied upon petrol, and consequent to the reduction in excise duty, this will come down to Rs. 19.48.
Since 2015, the National Democratic Alliance (NDA) government at the Centre has hiked excise on petrol by Rs. 12 per litre, and on diesel by over Rs. 13 per litre in installments.
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