Fuel prices reduced in Meghalaya by approximately Rs. 7 after reduction in VAT

A CORRESPONDENT

GUWAHATI: The prices of petrol and diesel in Meghalaya have come down by approximately Rs. 7 after reduction in the Value Added Tax (VAT).

Meghalaya Chief Minister, Conrad Sangma informed that the VAT on petrol will be reduced by 20 percent or Rs. 15 per litre whichever is higher.

Currently the VAT on petrol is 31.62 percent or Rs. 17.60 per litre.

"This would mean that the price of petrol in Shillong would be reduced from Rs 91.26 rupees to Rs 85.86," Sangma said.

According to him, the reduction in the price of petrol would come to around Rs 7 by adding the earlier rebate of Rs 2.

Meanwhile, the VAT on diesel which is currently at 22.95 percent or Rs. 12 per litre will now be reduced to 12 percent or Rs. 9 per litre whichever is higher.

Sangma informed that with the reduction in the VAT the diesel price in Shillong would now be reduced from Rs 84.23 to Rs. 79.13 pet litre. He also informed that the price of diesel would be reduced Rs. 7 in the State by adding the earlier rebate of Rs. 2.

The Chief Minister said that the reduction in prices of fuel was done primarily to ensure that consumers and citizens are not affected by the hike in prices of petrol and diesel.

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