Current Affairs - State - Discussion

Discussion Forum : State - Latest Current Affairs (Q.No. 6016)

2017-10-11 State

6016.

Which state become the first state to slash VAT on petrol, diesel; cuts taxes by 4 percent?

Punjab

Odisha

Gujarat

Rajasthan

Answer: Option

Explanation:

Gujarat state government announced a 4 per cent reduction in VAT (Value Added Tax) on petrol and diesel. It has thereby become the first state to cut VAT on fuel. Out of the total levy on fuel, state governments get all of the VAT collection along with 42 per cent of the central excise collections.