Andhra Pradesh announces Rs 2 cut in VAT on petrol, diesel

The Andhra Pradesh government has announced a 2 rupees cut in VAT on petrol and diesel to check the mounting prices of the fuels.

Chief Minister N Chandrababu Naidu announced the reduction in Value Added Tax in the state assembly today.

He said the state government was currently levying 4 rupees per litre VAT on petrol and diesel.

Mr Naidu said, the state would have to forego a revenue of 1,120 crore rupees due to the measure.

A day before the opposition-sponsored Bharat Bandh
against rising fuel prices, Rajasthan had slashed the VAT on petrol and diesel.

Chief Minister Vasundhara Raje yesterday announced a 4 per cent reduction which brought the prices of the two commodities down by 2.5 rupees per litre.

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