Madhya Pradesh reduces tax on LPG, diesel

June 18th, 2008 - 10:39 pm ICT by IANS  

Bhopal, June 18 (IANS) Madhya Pradesh Chief Minister Shivraj Singh Chouhan Wednesday announced that the entry tax on LPG would be slashed lowering the price by Rs.10 per cylinder and value added tax (VAT) on diesel would be reduced two percent. Chouhan said the decision has been taken to provide relief to the people of the state who are suffering from high prices of petroleum products.

“Now the entry tax on an LPG cylinder would be reduced lowering the price by Rs.10 while the VAT on diesel has been reduced by two percent from 25 to 23 percent. This would reduce the cost of diesel in the state by 61 paise per litre.

The chief minister added that the decision to slash the tax on these two products would incur a revenue loss of Rs.1.4 billion to the state government. Earlier, the state government had reduced VAT on diesel by one percent from April 1, 2008.

Tags: , , , , , , , , , ,

Posted in Business |