Meghalaya lowers VAT on petrol
14 Jun 2012 2:07 AM GMT
The Meghalaya government on Wednesday decided to bring down the VAT on petrol, a decision which would come into effect from Friday, Chief Minister Mukul Sangma said.
Announcing this after a cabinet meeting, Mukul said ‘We have taken one day to ensure that there is no manipulation of stock,’ adding that all district deputy commissioners were instructed to check the stock.
The Chief Minister reasoned that intention of his government is ‘to extend relief to the consumers,’ who after the de-regulation, oil companies fixed the price hike which in the end, the result is passed to the consumers. After the reduction of VAT on petrol, it would mean petrol would be cheaper by Rs 1.10 per litre at the retail end in the state. The price of petrol at present in Meghalaya is Rs 72.37 and after the reduction in VAT it would cost Rs 71.2.
Announcing this after a cabinet meeting, Mukul said ‘We have taken one day to ensure that there is no manipulation of stock,’ adding that all district deputy commissioners were instructed to check the stock.
The Chief Minister reasoned that intention of his government is ‘to extend relief to the consumers,’ who after the de-regulation, oil companies fixed the price hike which in the end, the result is passed to the consumers. After the reduction of VAT on petrol, it would mean petrol would be cheaper by Rs 1.10 per litre at the retail end in the state. The price of petrol at present in Meghalaya is Rs 72.37 and after the reduction in VAT it would cost Rs 71.2.
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