GANGTOK, NOVEMBER 4 :The state government notifies that the amount of local sales tax is hereby reduced on petrol and diesel by Rs 7 per litre, added the centre cut excise customs by Rs 5 and Rs 10 per litre respectively to help bring down rates from their highest ever level with petrol standing at Rs 110.04 and diesel at 98.42 per litre.
The reduction in the rates is effective from today, November 4, The Government of India has taken a significant decision of reducing central excise duty on petrol and diesel and in view of this decision and in this propitious occasion of Diwali.
Chief Minister Prem Singh Tamang said “ I would like to announce that the State Government will be reducing the prices of petrol and diesel as a Diwali gift.”
This is the highest ever reduction in excise duty and sets aside a part of the Rs 13 and Rs 16 per litre increase in taxes on petrol and diesel effected between March 2020 and May 2020 to avoid passing on to consumers the plummet in international oil prices.
The statement said states are also being urged to commensurately reduce VAT on petrol and diesel to give solace to consumers.
The reduction follows an unyielding hike in international oil prices, pushing pump rates across the country to their highest levels in many states.
Report: KALZANG UZOR GURUNG
