Following suit from the centre, which had reduced the Central Excise Duty on petrol by Rs 5 per litre and on diesel by Rs 10 per litre from Thursday, the Manipur government also cut its VAT by Rs 7 per litre for both petrol and diesel w.e.f. November 4, 2021
TFM Desk
After the central government had reduced the Central Excise Duty on Petrol by Rs. 5 per litre and on Diesel by Rs 10 per litre from Thursday, the Manipur government on Thursday followed suit and cut its Value Added Tax (VAT) by Rs 7 per litre for both petrol and diesel w.e.f. November 4, 2021. With this, the effective reduction in price of petrol will be Rs 12 per litre and of diesel by Rs 17 per litre.
According to a press statement issued by the Finance department of the Manipur government, the rise in the International Oil price in recent weeks had put a burden on the public due to the rise in price of petrol and diesel. “Understanding the difficulties faced by the public and with an intention to prevent inflation and also maintain economic growth the Government of India had reduced the Central Excise Duty on Petrol by Rs. 5 per litre and on Diesel by Rs. 10 per litre, w.e.f. November 4, 2021,” it added.
The statement claimed that the step of the state government shows its citizen-centric policy and shows that it listens to the public and takes all necessary action to reduce their burden. This action of the Government will prevent inflation and also maintain the growth of the economy, it asserted.
The statement further claimed that in close cooperation and coordination with the Government of India, the state government had also reduced its VAT by Rs. 7 per litre for both petrol and diesel w.e.f. November 4, 2021 vide the notification no. FX-7/21/2021-e-FD dated November 3, 2021. “Therefore, the effective reduction in price of petrol will be Rs 12 per litre and of diesel by Rs 17 per litre,” it added.
It may be noted the price of petrol on November 3 was Rs. 111.35 per litre (approx.) which will now be reduced to Rs 99.38 per litre (approx.) from November 4. The price of diesel on November 3, 2021 was Rs 99.39 per litre (approx.) which will now be reduced to Rs. 82.51 per litre (approx.) from November 4, 2021.