SRINAGAR, Nov 4: A day after the Centre cut excise duty on petrol and diesel, the Jammu and Kashmir government on Thursday reduced their prices by an additional Rs 7 a litre.
According to a notification issued by the government, value added tax (VAT) will now be levied at 24 per cent on petrol and 16 per cent on diesel in the union territory.
The central government on Wednesday had cut excise duty on petrol and diesel by a record Rs 5 and Rs 10 per litre.
The office of the lieutenant governor of Jammu and Kashmir tweeted, “Hon’ble PM @narendramodi Ji has given a great Deepawali gift by announcing reduction in excise duty on Petrol & Diesel. In addition, J&K admin has decided to reduce additional Rs 7 on Petrol & Diesel, thereby reducing Petrol price by Rs 12/litre & Diesel by Rs 17/litre in UT from today.” (PTI)
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