fuel prices

Madhya Pradesh becomes fourth state to slash Value Added Tax on petrol and diesel prices

The new prices will come into effect from Friday midnight.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Friday said the state government had decided to cut the Value Added Tax on petrol and diesel prices, ANI reported. The state reduced the sales tax on diesel by 5%, and on petrol by 3%. The new prices will come into effect from midnight on Friday.

Madhya Pradesh becomes the fourth state after Gujarat, Maharashtra and Himachal Pradesh to slash Value Added Tax on fuel prices.

On October 3, the Centre had slashed the basic excise duty on petrol and diesel – both branded and unbranded – by Rs 2 per litre. The new prices came into effect from October 4.

The decision will help cushion the impact of rising crude oil prices on retail petrol and diesel prices, a government release had said. The government, however, expects an extra revenue loss of Rs 13,000 crore in the remaining financial year because of the reduction.

Since June 16, oil retailers Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum, which account for 90% of India’s refuelling stations, started revising petrol and diesel prices everyday to instantly reflect global rate changes.

We welcome your comments at letters@scroll.in.
Sponsored Content BY 

When house hunting is as easy as shopping for groceries

The supermarket experience comes to a sector where you least expected it.

The woes of a house hunter in India are many. The dreary process starts with circling classifieds in newspapers and collecting shiny brochures. You flip through the proposed and ready designs that launch a hundred daydreams on the spot. So far so good. But, every house hunter would attest to the soul-crushing experience of checking out a disappointing property.

The kitchen of a 2BHK is carved from the corner of the hall, the 3BHK is a converted 2BHK, the building looks much older than in the pictures…. after months of reading the fine line, and between the lines, you feel like all the diagrams and highlights seem to blur into each other.

After much mental stress, if you do manage to zero in on a decent property, there’s a whole new world of knowledge to be navigated - home loans to be sifted through, taxes to be sorted and a finance degree to be earned for understanding it all.

Do you wish a real estate platform would address all your woes? Like a supermarket, where your every need (and want) is catered to? Imagine all your property choices nicely lined up and arranged with neat labels and offers. Imagine being able to compare all your choices side by side. Imagine viewing verfied listings and knowing what you see is what you get. Imagine having other buyers and experts guiding you along every step while you make one of the most important investments in your life. Imagine...

MagicBricks has made every Indian house hunters’ daydream of a simplified real estate supermarket a reality. Now you have more than a pile of brochures at your disposal as the online real estate marketplace brings you lakhs of choices to your fingertips. Instead of bookmarking pages, you can narrow down your choices by area, budget, house type etc. Just so you aren’t hit by FOMO, you can always add a suburb you’ve been eyeing or an extra bedroom to your filter. But there’s more to a house than just floor space. On MagicBricks, you can check for good schools in the vicinity, a park for evening walks or at least an assured easier commute. Save time and energy by vetting properties based on the specs, pictures and floor plans uploaded and have all your niggling concerns addressed on the users’ forum.

Shortlisted a property? Great! No need to descend down another spiral of anxiety. Get help from reliable experts on MagicBricks on matters of legalities, home loans, investment, property worth etc. You can even avail their astrology and Vastu services to ensure an auspicious start to life in your new home or office. With its entire gamut of offerings, MagicBricks has indeed brought the supermarket experience to real estate in India, as this fun video shows below.

Play

Get started with a simplified experience of buying, renting and selling property on MagicBricks here.

This article was produced by the Scroll marketing team on behalf of MagicBricks and not by the Scroll editorial team.