Petrol/diesel prices slashed after Maharashtra cuts down on VAT

Acting on the directive of the central government

Acting on the directive of the central government, the Maharashtra government ordered reduction of Value Added Tax by whopping four percent leading to slashing of petrol/diesel prices by Rs 2.33 and Rs 1.5 respectively. However, there has been no exemption granted on various cess imposed by the state government. The reduction in VAT comes after Finance Minister Arun Jaitley wrote to states urging for the same as it leads to spiraling of petrol/diesel prices.

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