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Meghalaya to Face Rs 30 Crores Loss After Deduction in Petrol and Diesel Prices

  by NEWSNER , 2021-02-20 10:17:13


Meghalaya to Face Rs 30 Crores Loss After Deduction in Petrol and Diesel Prices

The Meghalaya government is required to lose around Rs 30 crore each month after it chose to lessen the VAT on petroleum and diesel costs. 

 

Words from Tax Commissioner:

 

"The cost of petroleum and diesel has descended by Rs 7.40 and Rs 7.10 separately given the decrease of the VAT," Commissioner of Taxes, Arunkumar Kembhavi said today. 

 

He further educated that the volume regarding petroleum sold in the state is around one crore litres each month while the volume of diesel is around 3 crore litres. 

 

Also Read: Petrol and Diesel Price To Get Reduced By Rs 2 Per Litre In Meghalaya

 

As per Kembhavi, in the last fiscal, the state government had acquired a complete revenue of Rs 322.57 crore on the offer of petroleum and diesel. 

 

This year the state has just gathered Rs 351.76 crore as revenue from the offer of petroleum and diesel, he added.

 

Read More: Diesel and Petrol Prices Reduced By Rs 5 Per Litre in Assam