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No customs and VAT on non-subsidised cylinders: FM

September, 21st 2012
The finance ministry on Friday reduced customs and excise duty on domestic LPG cylinders to zero, bringing major relief to the common man. Finance minister P Chidambaram said that there will zero customs duty and VAT on non-subsidised cylinders. Chidambaram also welcomed the decision by some of the states to raise the cap on maximum number of subsidised LPG cylinders a family can buy in a year from six to nine. The finance minister said that more state governments should provide subsidy on LPG cylinders. However, the government stands firm on its decision to hike diesel prices and said that it would not withdraw its decision to introduce 51% FDI in multi-brand retail.