In the wake of gradual fall in prices of petrol and diesel in the last two months, the Tripura government has hiked VAT and cess on petroleum products in the state boost revenue, deputy chief minister Jishnu Dev Varma, who is also in charge of finance, said on Saturday.
“Responding to the appeal of central government to reduce VAT on transport fuel, the state government had cut down VAT by Rs 2.5 per litre on both petrol and diesel on October 4 last. It is observed that subsequently, from October-end, prices of petrol and diesel have been reducing almost everyday,” said Jishnu. He added that VAT was slashed to give respite to people. Read more