Petrol price further cut by Rs 8, diesel by Rs 9 in BJP-ruled states

Petrol price has been further reduced by as much as Rs 87 per litre and diesel by Rs 952 in BJP ruled states and Union Territories from Ladakh to Puducherry as they matched the central governments announcement of a cut in excise duty with slashing of local sales tax VAT ratesBuckling under pressure the Union government had on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre to give reprieve to consumers battered by recordhigh retail fuel pricesThis announcement was matched by 22 states and Union Territories cutting ValueAdded Tax rates in different proportionsThis has led to BJP and its partner ruled states witnessing steeper reductions in petrol and diesel prices in comparison to Maharashtra Delhi West Bengal and other states that are governed by other political parties according to a price chart of different locations prepared by stateowned oil firmsThe additional reduction on top of the excise duty cut is the lowest in Uttarakhand because of lower duty cuts and the highest in Ladakh On petrol the price reduction overandabove excise reduction ranges from Rs 197 per litre in the case of Uttarakhand to Rs 870 in the case of LadakhFor diesel the additional reduction warranted by ValueAdded Tax cuts ranging from Rs 175 a litre in Uttarakhand to Rs 952 in the case of LadakhThe states that extended additional ValueAdded Tax benefits are Karnataka Puducherry Mizoram Arunachal Pradesh Manipur Nagaland Tripura Assam Sikkim Bihar Madhya Pradesh Goa Gujarat Dadra amp Nagar Haveli Daman amp Diu Chandigarh Haryana Himachal Pradesh Jammu amp Kashmir Uttarakhand Uttar Pradesh and LadakhKarnataka saw Rs 862 a litre cut in petrol price due to ValueAdded Tax reduction and Rs 940 in diesel rates while Madhya Pradesh gave its citizens an additional Rs 689 price relief on petrol and Rs 696 on diesel Uttar Pradesh lowered VAT on petrol by Rs 696 and diesel by Rs 204 a litreStates that have so far not lowered ValueAdded Tax include Congress and its allies ruled Rajasthan Punjab Chhattisgarh Maharashtra Jharkhand and Tamil Nadu AAPruled Delhi TMCgoverned West Bengal Leftruled Kerala BJDgoverned Odisha TRSled Telengana and YSR Congressruled Andhra PradeshWednesdays excise duty cut had translated into a reduction in the price of petrol in the range of Rs 57 to Rs 635 per litre across the country and diesel rates by Rs 1116 to Rs 1288Since states charge local sales tax or ValueAdded Tax not just on the base price but also on the excise duty levied by the Centre the total incidence of price reduction was higher than Rs 5 a litre cut in excise duty on petrol and Rs 10 per litre cut in diesel The reduction was larger in states with higher ValueAdded TaxIn Delhi the reduction in petrol price was Rs 607 per litre and that on diesel was Rs 1175 according to the price chartAfter duty changes the costliest petrol is sold in Rajasthan at Rs 11110 per litre Jaipur followed by Mumbai Rs 10998 and Andhra Pradesh Rs 10905 The fuel is below Rs 100alitremark in most BJP ruled states baring Karnataka Rs 10058 Bihar Rs 10590 Madhya Pradesh Rs 10723 and Ladakh Rs 10299This story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever