TN Govt slashes sales tax on petrol by 3%
Posted on: 01/Mar/2011 5:15:07 AM
The Tamil Nadu government today announced a 3% cut in sales tax on petrol that would make it cheaper by Rs 1.38 a litre.
Chief Minister M Karunanidhi made the announcement a day after the presentation of the Union budget which skirted the demand for reduction of customs duty and sales tax on fuel prices amidst soaring global crude rates.
He said the tax cut would be with immediate effect and the new rate of 27 per cent was the lowest among southern states.
"Since global crude rates are on the upswing, oil companies also revise the prices accordingly which affect middle-classes to a large extent," and this was the reason the government slashed sales tax on fuel on different occasions, Chief Minister said.
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