 "Gujarat first state to slash VAT on fuel prices")
Ahead of the state assembly elections, the state government has cut value-added tax (VAT) on petrol and diesel, making it the first state to follow the Centre's directions to do so.
Speaking at an event in Una as part of the 'Gaurav Yatra', Gujarat chief minister Vijay Rupani said that the government was set to reduce taxes on the retail fuel. Gujarat government is likely to make an announcement soon.
Recently, the union government cut basic excise duty on petrol and diesel by Rs 2 a litre.
Union oil minister Dharmendra Pradhan had recently stated that retail fuel prices were set to ease out, following which the Centre asked state governments to cut VAT on petrol and diesel to ease rates.
Gujarat currently levies a 28.96 per cent VAT on petrol and diesel.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%