While the fuel prices are rising to historic highs across verticals, the government of Rajasthan has reduced the value-added tax (VAT) by 2 per cent both on petrol and diesel. This has announced Chief Minister Ashok Gehlot on Friday. Gehlot also urged the Central government for a reduction in Value-added Tax.
"The State govt has reduced VAT by 2 percent both on petrol and diesel to provide relief to people in Rajasthan. We expect the central government would announce a reduction too so that the financial burden on common people is reduced," Gehlot tweeted. For the last three days, petrol is being sold at Rs 93.94 Per Litre and diesel at Rs 86.02 Per Litre in Jaipur.
A value-added tax (VAT) is a type of indirect tax levied on a product whenever a value is added at each stage of the supply chain, from production to the point of sale Rates differ from state to state depending on the incidence of value-added tax.
In Rajasthan’s Sriganganar, the price of premium petrol has now surpassed Rs 101 per litre, while normal petrol costs Rs 98.40. The rate for branded petrol in Delhi is Rs 89.10, while it is Rs 95.61 in Mumbai.
Meanwhile, petrol prices are also rising quickly in major cities and soon likely to touch Rs 90 per litre if oil marketing companies continue upward revision in prices. The major difference between regular and premium fuel grades is the octane number. Regular fuel has a lower octane number, while premium fuel generally gets a 91 octane rating. It may be noted that the octane number is the measure of the ignition quality of fuel.
Petrol and diesel sold most expensive in Madhya Pradesh after Rajasthan
