Local Goa News

Tuesday, May 17, 2016

Govt cuts VAT on petrol to keep price below `60 a litre

PANJIM: As the Centre has hiked the price of petrol by 83 paisa a litre, the Goa government has reduced VAT on petrol by 2 per cent to keep the price below Rs 60 a litre.
With the Centre’s hike, the price of petrol had gone to Rs 60.70 a litre, prompting the government to reduce VAT from 22 per cent to 20 per cent. Petrol will now cost Rs 59.70 a litre in Goa.
The raise – 83 paisa on petrol and Rs 1.26 on diesel – by the Centre comes a fortnight after the previous increase in the price of fuel by Rs 1.06 a litre and Rs 2.94 a litre on diesel announced on May 1.
Chief Minister Laxmikant Parsekar, in the State budget 2016-17, had hiked VAT from 15 to 22 per cent, but had promised it would be revised if the price of petrol crossed Rs 60 a litre.

Herald Goa News

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