The Karnataka government announced on Wednesday its decision to cut its share of taxes on gasoline and diesel by 7 rupees.
On Wednesday, November 4th, the center lowered the excise tax by 5 rupees on gasoline and 10 rupees on diesel, effective Thursday. (Photo: PTI)
The government of Karnataka announced on Thursday the 4th after a reduction of Rs 10 or Rs 5 by the center.
“The price of diesel in the state has been reduced from 104.50 rupees to 85.03 rupees – a reduction of 19.47 rupees,” the statement said. “The price of gasoline has been cut from Rs 113.93 to Rs 100.63 – a reduction of Rs 13.30,” he added.
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The Karnataka government announced on Wednesday its decision to cut its share of taxes on gasoline and diesel by 7 rupees. “The government of the state of Karnataka has decided to cut the price of diesel and gasoline by 7 rupees per liter. This will result in a loss of 2.100 billion rupees to the treasury,” said Karnataka CM Basavaraj Bommai in a tweet.
Karnataka’s share of KST in gasoline has now decreased from 35% to 25.9% and the share of diesel from 24% to 14.34% with today’s announcement.
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The center announced a cut in the consumption tax on gasoline and diesel on Wednesday. The excise tax was reduced by 5 rupees on gasoline and 10 rupees on diesel from Thursday.
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