May 25, 2023 11:01 AM IST
The fuel prices are not covered under goods and services tax (GST). While the Centre collects excise duty, the states collect VAT.
Continuing a year-long trend of price stability, the cost of petrol and diesel stayed unchanged on Thursday. In India, petrol prices are revised daily at 6am by the Oil Marketing Companies (OMCs) like Indian Oil, Bharat Petroleum and Hindustan Petroleum based on the international prices.
The fuel prices are not covered under goods and services tax (GST). While the Centre collects excise duty, the states collect VAT. The VAT is different for each state and hence the pricing.
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