Chennai, March 1 (IANS) Even with the global crude prices on the upswing, poll-bound Tamil Nadu Tuesday reduced the sales tax on petrol by three percent to 27 percent.
In a statement issued here, Tamil Nadu Chief Minister M. Karunanidhi said oil marketing companies in India are forced to increase the selling price as the crude prices in the international market are going up.
According to him, the state government has decided to come to the help of two-wheeler owners with a tax rate reduction as it they who will be the most affected by the fuel price hikes.
He said the government will be forgoing an annual revenue of around Rs.210 crore because of this move while the price per litre of petrol will come down by Rs.1.38.
