Karnataka govt issues notification on fuel price cut

Bengaluru, Nov 4 The Karnataka government on Thursday issued a notification reducing the prices of diesel and petrol by Rs 7, as per the announcement made by the Chief Minister Basavaraj Bommai earlier.

Following announcement of reduction of Rs 10 and Rs 5, respectively by the Centre on diesel and petrol, Bommai also had declared a tax cut on these items as a Diwali gift on Wednesday.

Karnataka is the first state to reduce tax on petrol and diesel, claimed the release by the Chief Minister's office.

With this, diesel prices have reduced to Rs 85.03 from Rs 104.50. (reduction of Rs 19.47) and petrol prices reduced from Rs 113.93 to Rs 100.63 (reduction of Rs 13.30).

Karnataka's share of KST on petrol is reduced from 35 per cent to 25.9 per cent and on diesel, from 24 per cent to 14.34 per cent.

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