Maha govt hikes VAT on petrol by Rs 1.50 per litre

September 16, 2016 18:14

Maharashtra government today hiked the value added tax levied on petrol by Rs 1.50 per litre.

The measure is expected to generate additional revenue of Rs 600 crore, a senior official said.

The state has not touched diesel prices, fearing losing revenue to neighbouring states, he added.

"The decision is taken to garner additional revenue. Instead of going in for ad-valorem where VAT is revised in percentage, the state government preferred to increase VAT in rupees," Deputy Secretary (Finance) Rajendra Bhagat said.

"There was some correction in petrol prices from June, benefiting customers. The latest increase in VAT would revert prices to June level," he said.

Uday Lodh, president of Federation of All Maharashtra Petrol Dealers' Association, said, "The decision would affect the business of some of the retailers located in border areas of Maharashtra."

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