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Amid fuel price hikes, states urged to cut VAT - The Times of India
NEW DELHI: The increase in pump prices by around Rs 5 a litre is only a dent to under-recovery given that oil companies are still losing Rs 13 a litre on petrol and Rs 38 on diesel, without factoring in taxes, resulting in heightened pressure on the states to lower VAT, which is as high as 30% in some of the states.
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