Chief Minister Conrad Sangma on Wednesday hinted that there would be no reduction in Value Added Tax on petrol and diesel in Meghalaya despite record fuel prices.
"The state's VAT can be adjusted, but we have a much lesser rate compared with neighbouring states. I cannot comment on the issue right now but all I can say is that our rate is much much lesser," he told journalists here.
"We are open to fluctuations in the global market. That is why we see fluctuation in fuel prices (in the state) every day... and petrol and diesel prices are based on prices at the national and international level," the Chief Minister said.
Sangma said that the state was under a lot of financial pressure and it may not be advisable at this point of time to look into or decide on the VAT issue.
Sangma said that he will meet officials of taxation, excise, mining, forest, and transport departments in the next two days and discuss ways of generating more revenue.
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