VAT on petrol, diesel prices will not be hiked in this state

Value Added Tax on petrol and diesel was reduced after the Centre had slashed tax on both fuel earlier this year. This move comes as a relief to consu
...
Uttar Pradesh Chief Minister Yogi Adityanath has ruled out any further increase of Value Added Tax on petrol and diesel in Uttar Pradesh in the near future. (HT_PRINT)
Uttar Pradesh Chief Minister Yogi Adityanath has ruled out any further increase of Value Added Tax on petrol and diesel in Uttar Pradesh in the near future.

In a relief to daily commuters in Uttar Pradesh, the state government has decided not to increase Value Added Tax (VAT) on petrol and diesel prices in the near future. Yogi Adityanath, Chief Minister of Uttar Pradesh, made the announcement on Friday, saying that VAT on both fuel is the lowest offered in any state across India. As of today, petrol price in Lucknow, capital of Uttar Pradesh is currently at 96.36 per litre, while diesel costs 89.56 per litre. In Noida, the business hub of the state, petrol costs 96.69 per litre and diesel is priced at 89.86 per litre.

The decision was taken after the chief minister reviewed the status of revenue collection in the state. Adityanath said, "Keeping in mind the larger public interest, we have not increased the rate of VAT or imposed any new tax in the state. Today the lowest VAT rate on petrol/diesel is in Uttar Pradesh. There will be no increase in VAT in the near future as well. Keeping this in mind, efforts should be made to increase the revenue collection according to the zone-wise potential."

Also check these Cars

Find more Cars
Mahindra Ekuv100 (HT Auto photo)
UPCOMING
40 kWh 85 Kmph 150 Km
₹ 8.25 - 10 Lakhs
View Details
Porsche 911 Gt3 (HT Auto photo)
3996.0 Petrol Automatic
₹ 2.50 Cr
Compare
View Offers
Mahindra S204 (HT Auto photo)
UPCOMING
₹ 12 Lakhs
View Details
Lexus Nx (HT Auto photo)
2494.0 Multiple Both
₹ 64.90 - 71.60 Lakhs
Compare
View Offers
Rolls-royce New Ghost (HT Auto photo)
UPCOMING
6750 cc Petrol Automatic
₹ 6.95 - 7.95 Cr
View Details
Mercedes-benz Amg E53 Cabriolet (HT Auto photo)
2999.0 cc Petrol Automatic
₹ 1.30 Cr
Compare

Before reducing VAT on petrol and diesel, the Uttar Pradesh government used to charge sales tax of around 26 per cent per litre on petrol. The amount is around 19 per litre when roughly converted. After the Centre reduced VAT on petrol by 7 per litre earlier this year the state government slashed excise duty and VAT on petrol by 12 per litre. It currently imposes VAT of about 15.84 per litre on petrol besides the excise duty by Centre, which is around 28 per litre.

The VAT on petrol and diesel were reduced in Uttar Pradesh after the Centre decided to slash taxes on both fuel earlier this year. The reduction in price of petrol and diesel came as a relief after several consequent hikes in fuel prices which soared to an all-time high in May this year.

First Published Date: 30 Jul 2022, 10:26 AM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.