A state official said the reduction in the levies will overall bring down the fuel prices by ₹12 per litre in Uttar Pradesh. Chief minister Yogi Adityanath earlier indicated the reduction at a meeting on VAT on October 28
The Uttar Pradesh government on Wednesday slashed Value Added Tax (VAT) on petrol and diesel to bring down their prices. The move came as the Centre reduced excise duty by ₹5 per litre on petrol and ₹10 a litre on diesel amid spiralling fuel prices while urging states to further bring down the rates.
The Uttar Pradesh government on Wednesday slashed VAT on petrol and diesel to bring down their prices ahead of Diwali. (REUTERS/File)
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A state official said the reduction in the levies will overall bring down the fuel prices by ₹12 per litre in Uttar Pradesh.
Chief minister Yogi Adityanath earlier indicated the reduction at a meeting on VAT on October 28. The state government imposed a VAT of 26.8% or ₹18.74 per litre, whichever was higher, on petrol and 48% or ₹10.41 per litre, whichever was higher, on diesel.
No additional details about the new rates of VAT were available till late Wednesday. People aware of the matter said the rates have been brought down by ₹7 per litre on petrol and ₹2 per litre on diesel.
VAT is a major source of revenue for the government, which earned ₹2200.4 crore, about 106% of the target of ₹2060.43 crore, through it in September. The earning was ₹1,653 crore in September 2020.
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The government earned ₹12137.27 crore as VAT in the first six months of 2021-2022, or 39% of the annual target.
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The government earned ₹12137.27 crore as VAT in the first six months of 2021-2022, or 39% of the annual target.
Umesh Raghuvanshi is an award-winning journalist with nearly four decades of demonstrated experience in the profession. He is the author of Ayodhya: The Gods Are Liberated. He is skilled in storytelling and newswriting, and writes on politics, governance, legislature, finance, environment, and social issues. He is based in Lucknow, is well-travelled, and has covered several national and international events, as well as all assembly and parliament elections in Uttar Pradesh since 1984. He has been a visiting scholar at the Graduate School of Journalism, University of California, Berkeley, USA, and a Metcalf Fellow at the Metcalf Institute of Marine and Environmental Reporting, University of Rhode Island, USA. He is a science graduate from DBS College, Dehradun, and holds an MA in Political Science from DAV (PG) College, Dehradun. He won the KC Kulish International Merit Award for excellence in journalism (2015) and received it in New Delhi in 2017. He also won a competition organised by the United Nations Environment Programme DTIE OzonAction Programme in 2009 that assessed coverage of the interlinkages between ozone and climate change. He was awarded in Beijing, China, in 2010. He started his career with a Dehradun-based English daily in the early 1980s and later worked with The Pioneer too.
