Amid fuel prices rising in country, Meghalaya slashes VAT to offer relief to consumers

Amid outr over surge in fuel prices across country, Meghalaya government has decided to reduce price of fuel in an attempt to offer relief to consumers of state. In dition to previous rebate of Rs 2 per litre, state government has decided to reduce price of petrol by Rs 5.4 per litre and diesel by Rs 5.1 per litre, Meghalaya Chief Minister Conr Sangma said on Tuesday.

" government decided to reduce overall VAT on both petrol and diesel. It will affect revenue structure, but we felt need to give some sort of relief to consumers,” Conr Sangma wrote on Twitter.

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decision by Meghalaya government has come amid a strike by commercial transporters that entered second day. commercial transporters h remained off ro in past two days and also threatened to go on indefinite hunger strike if government fails to act.

new retail price of petrol will be Rs 85.86 from its current price of Rs 91.26, while new retail price of diesel will be Rs 79.13 from its present rate of Rs 86.23 in state capital, Sangma said after a review meeting he held with his cabinet colleagues and senior government officials. He said total reduction will be Rs 7.4 for petrol and Rs 7.1 for diesel after state government h anunced a Rs 2 rebate on both items last week.

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lowering of prices of both petrol and diesel was a result of state government's decision to reduce VAT from 31.62% on petrol to 20% per litre or Rs 15 per litre (whichever is higher). For diesel VAT came down from 22.95% to 12% or Rs 9 per litre, Conr said while ding that competitive pricing of both items with neighbouring Assam which h reduced prices of both petrol and diesel by Rs 5 last week.

fuel prices have continued to rise across country for eighth consecutive day due to price fluctuation in global markets and both crude and product prices seeing a big spike. Oil marketing companies raised pump price of diesel by a high level of 35 paise per litre and petrol by ar 30 paise per litre in Delhi. With this increase, petrol is w stood at Rs 89.29 a litre and diesel Rs 79.70 a litre in capital.

(With inputs from ncies)

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