After sales tax cut, petrol in Karnataka is now Rs 95.50/litre, diesel Rs 81.50

Following Central excise cut, Karnataka CM cuts sales tax on petrol & diesel by Rs 7, calls it Deepavali ‘gift’ to people

BENGALURU:

After Prime Minister Narendra Modi government’s announcement cutting excise duty on petrol and diesel by Rs 5 and Rs 10 respectively, Karnataka Chief Minister Basavaraj Bommai has announced a reduction of Rs 7 each in state sales tax on petrol and diesel.

In his tweet welcoming the Centre’s decision and calling it a ‘Deepavali gift’ to the people, Bommai said Karnataka’s decision to reduce sales tax on the two automotive fuels would cost Rs 2, 100 crore to the state exchequer.

“The price cut will come into effect from tomorrow (Thursday) evening…This is a Deepavali gift to the people from the Central and state governments,” he tweeted

Even though, it will mean a loss of rs 2100 crore to our exchequer, it will bring down the prices for our citizens to 95.90 & 81.50 (Approx.) for Petrol and Diesel respectively.

Wishing all a very #HappyDeepavali with this good news once again.@CMofKarnataka
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— Basavaraj S Bommai (@BSBommai) November 3, 2021

The new petrol price in the state is estimated at Rs 95.50 a litre while diesel will be Rs 81.50, the Chief Minister said.

Also Read: Diwali Bonanza: Excise duty on Petrol and Diesel to be reduced by Rs 5 and Rs 10 respectively from Thursday