Mumbai Petrol Price: Maharashtra govt cuts VAT on petrol and diesel by ₹5 & ₹3

The Maharashtra government on Thursday announced that it will be cutting the value added tax (VAT) on petrol and diesel.

“Maharashtra government to reduce value added tax (VAT) on petrol and diesel by Rs 5 and Rs 3 per litre respectively,” state’s chief minister Eknath Shinde said.

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The Shiv Sena-led Maharashtra government in May slashed the VAT on petrol by Rs 2.08 per litre and diesel by Rs 1.44 per litre. A statement issued by the government said the state exchequer will have to bear an annual loss of Rs 2,500 crore as a result of this decision.