The Delhi Government has reduced the Value Added Tax (VAT) on Petrol to 19.40% from 30%.
The new rates will be applicable come into effect from 1st December 2021.
With this price reduction, petrol price in the national capital is set to be reduced by Rs.8 per litre.
In Delhi, the VAT on petrol was 30% till date. The 10.60% VAT rate cut by the Delhi government comes in line with other state governments that have already reduced their respective VAT rates after the central government announced an excise duty cut in early November, right before Diwali.
The Central government had earlier on the eve of Diwali this year cut excise duty by Rs 5 per litre on petrol and Rs 10 per litre on diesel to bring down the retail prices across the nation.
In the exercise of the powers conferred by section 103 of Delhi Value Added Tax, 2004, Lt. Governor of National Capital Territory of Delhi amended the Fourth schedule appended to the said Act.
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