New Delhi: The Delhi government on Wednesday reduced the Value Added Tax (VAT) on petrol from 30 per cent to 19.40 per cent, informed the sources.
The decision was taken during the cabinet meeting chaired by Delhi Chief Minister Arvind Kejriwal today.
Following this, the price of petrol in Delhi is likely to get cheaper by approximately Rs 8. The new rates will come in to effect from midnight today.
On the eve of Diwali this year, the Centre cut excise duty by Rs 5 per litre on petrol and Rs 10 per litre on diesel to bring down the retail prices across the country.
Several states have already cut VAT on petrol and diesel....