Puducherry Government cuts VAT by 3% on Petrol
On 25th August 2021 the Puducherry Government cut down the Value Addition Tax (VAT) on petrol by 3%. The said decision was considering the recent decisions of the Finance Minister, Nirmala Sitharaman to cut in excise duty on petrol and diesel to ease prices. Further it was stated that the Centre has the option open for inclusion of petroleum products under the Goods and Services Tax (GST) regime. This would imply merging the entire realm of excise duty and VAT under GST; thereby, eliminating the cascading effect of tax.