INSUBCONTINENT EXCLUSIVE:
Mumbai has the highest VAT of 39.12 per cent on petrol.Petrol and diesel rates were further hiked across the four metro cities on Sunday
This means that fuel prices hit further record highs on Sunday
A litre of petrol now costs Rs
83.66 in Chennai, according to IOC's website
A litre of diesel costs Rs
72.61 in New Delhi - the highest ever
In Kolkata, diesel is priced at Rs
75.46/ litre, in Mumbai Rs
Petrol and diesel prices are raised on a daily basis according to global crude oil prices and the movement of the rupee against the US
dollar."The fuel price hike mainly is due to the depreciation of rupee against the dollar
Petrol and diesel should come under the purview GST and I accept that people are facing problems
Once petrol and diesel are brought are GST, everyone will be benefited," said Union petroleum and natural gas minister Dharmendra Pradhan on
Friday, according to a report by ANI
Petrol and diesel prices do not come under the purview of the Goods and Services Tax (GST).The Centre currently levies a total of Rs
19.48 per litre of excise duty on petrol and Rs
15.33 per litre on diesel
On top of this, states levy Value Added Tax (VAT) - the lowest being in Andaman and Nicobar Islands where a 6 per cent sales tax is charged
on both the fuels.Mumbai has the highest VAT of 39.12 per cent on petrol, while Telangana levies the highest VAT of 26 per cent on diesel
