The cut in taxes will translate into reduction of retail prices of roughly around 0.57 paise per litre for diesel and Rs 2.22 per litre for petrol and other motor spirits. (Morung File Photo)
KOHIMA, FEBRUARY 22 (MExN): The Nagaland Government has cut down the taxes on petrol, diesel and other motor spirits effective February 22.
A notice from the Finance Department informed that the tax rate for petrol and other motor spirits has been reduced from Rs 18.26 to Rs 16.04 per litre or from 29.80% to 25% per litre (whichever is higher).
Meanwhile the tax rate for diesel has been reduced from Rs 11.08 to Rs 10.51 per litre or 17.50% to 16.50% per litre (whichever is higher).
The cut in taxes will translate into reduction of retail prices of roughly around 0.57 paise per litre for diesel and Rs 2.22 per litre for petrol and other motor spirits.
|
Description |
Existing rate of tax |
Amended rate of tax |
|
|
1 |
Diesel |
17.50% or Rs. 11.08 per litre, whichever is higher |
16.50% or Rs. 10.51 per litre, whichever is higher |
|
2 |
Petrol and other Motor Spirit |
29.80% or Rs.18.26 per litre, whichever is higher |
25% or Rs. 16.04 per litre, whichever is higher |
Source: Finance Department, Government of Nagaland
