VAT reduction for fuel products
Source: The Sangai Express
Imphal, June 06:
Along with lifting the ban imposed on entry of two wheelers and light vehicles (four wheelers) in Khwairamband Bazar area, the State Cabinet during a meeting today approved reduction of Value Added Tax (VAT) on petrol, diesel and cooking gas.
The meeting held in the Cabinet room this evening with Chief Minister O Ibobi Singh in the chair decided to lift the ban on entry of two wheelers and four-wheeler light vehicles in the Bazar areas which was imposed as security measures in the wake of the two incidents of bomb blast at Babupara and fitting of a bomb in a rickshaw near Mapal Kangjeibung where the Governor was scheduled to pass through on April 24 last.
However, entry of the vehicles would be allowed only for the purpose of picking up people or goods and random parking would be forbidden.
Parking of vehicles belonging to the residents of Bazar area would be allowed provided they have proper garage.
Restriction on entry of three-wheelers like autorickshaws in bazar area, however, would remain.
The Cabinet further decided that entry of heavy vehicles like trucks would be allowed only during night time.
It may be noted here that following ban on entry of vehicles of any kind, shops and other business units in Khwairamband Bazar had badly been affected so much so that in all 16 shops have closed down.
On the other hand, subsequent to the directive given by Congress president Sonia Gandhi to all the Congress-ruled States for reducing the Value Added Taxes levied on petrol, diesel and cooking gas, CPI which is a partner of the SPF Government has endorsed cutting down VAT on petroleum products.
Consequently, today's Cabinet meeting has also decided to reduce VAT at the rate of Rs 1 per litre on petrol, 38 paise per litre on diesel and Rs 2 per cooking gas cylinder.
The Centre had earlier announced a hike at the rate of Rs 5 per litre on petrol, Rs 3 per litre on diesel and Rs 50 per cooking gas cylinder.