Cabinet meet to consider removing additional tax on fuel
Thiruvananthapuram: The state cabinet meet on Wednesday will consider removing the additional tax on petrol and diesel. The finance department has calculated the price hike after April 1 and the tax revenue earned from the date.
The government considers reducing 50 paisa to 1 rupee for one litre maintaining the excise duty at the current rate. The state will withdraw the reductions as the central government takes actions to reduce price.
Kerala charges 32.02 percent (Rs 19.50) tax for petrol and 25.58 percent (Rs 15.51) for diesel. With the fuel price hike, there was remarkable increase in the tax revenue of Kerala. The state government earns Rs 600 crore as tax of fuel.
Meanwhile, there is a slight decrease in the fuel price in the state today. Petrol price has come down by 62 paisa and diesel price by 60 paisa.