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The Delhi government on Wednesday slashed the value-added tax (VAT) on petrol from 30 per cent to 19.40 per cent, which is expected to make petrol cheaper by ₹8 per litre in the national capital.
The decision to cut the VAT rate was taken during a Cabinet meeting chaired by chief minister Arvind Kejriwal earlier in the day. It would come into effect from midnight today. This latest cut in VAT would make Petrol the cheapest in Delhi in the National Capital Region (NCR).
It may be recalled that the Centre had cut excise duty on petrol by ₹5 per litre and ₹10 per litre on diesel to bring down the retail prices across the country on the eve of Diwali last month.
Post the Centre's surprise move, several states and Union territories, especially those governed by the Bharatiya Janata Party (BJP) and allies, also followed suit through a cut in VAT rates.
Before the Delhi government's decision to slash VAT on fuel price, petrol was being sold at ₹103.97 a litre while diesel was sold for ₹86.67 per litre earlier in the day.
At present, a litre of petrol is available ₹ 103.97 in the national capital. In Noida, petrol was sold at ₹95.51 a litre. Petrol is being priced at ₹95.90 a litre in Gurugram. With the latest reduction in VAT, the price of petrol will be the cheapest in Delhi in Delhi-National Capital Region (Delhi-NCR).
In India, petrol price varies from one state to another due to value-added tax or VAT.
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