Tamil Nadu cuts sales tax on diesel by 2 percent

June 6th, 2008 - 12:35 am ICT by IANS  


Chennai, June 5 (IANS) In order to provide some cushion against the drastic increase in the fuel prices, the Tamil Nadu government Thursday decided to cut the sales tax on diesel by 2 percent to 21.43 percent. In a statement issued here, Chief Minister M. Karunanidhi said the tax reduction would result in the state losing a revenue of Rs.2.6 billion annually.

In 2006, the government had reduced the sales tax on diesel by 1.57 percent to 23.43 percent resulting in a revenue loss of around Rs.2 billion.

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