Bihar govt announces reduction in value-added tax on CNG, PNG by 7.5%

Quick Summary:

Talking to reporters, soon after the cabinet meeting, S Siddharth, Additional Chief Secretary (ACS), Cabinet Secretariat, said, The state Cabinet approved reduction in VAT on CNG and PNG, used for domestic purposes and motor vehicles, from 20 per cent to 12.5 per cent in the state.

The Bihar government on Tuesday announced a reduction in VAT on compressed natural gas (CNG) and piped natural gas (PNG), used for domestic purposes and motor vehicles, by 7.5 per cent - from 20 to 12.5 per cent - in the state.

The government also announced the reduction of VAT on PNG, used by industrial units manufacturing goods, from 20 per cent to 5 per cent.

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Category: BusinessFinance

Markets: IndiaChinaJapanSouth KoreaMalaysiaThailand

Topics: PNG Bihar VAT reduction Value added tax VAT Bihar CNG

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Article Type: News Report

Published On: 2024-10-01 @ 23:40:26 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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