Imphal, Jun 17: Like in some Congress-ruled States the Congress-led SPF Government has decided to roll-back fuel prices to a certain degree with exemption in ex-delivery prices of petrol and diesel.

An order issued by the State's Finance Department today referred the exemption as an 'exercise of power conferred under sub-section (1) of Section 52 of the Manipur Value Added Tax Act 2004'.According to informed source, the exemption would incur loss to the tune of Rs 2.55 to the State Government and that the order will come into effect from June 19, this year.

As per contents of the order states: 'in public interest the enhancement in the ex-delivery price of petrol and diesel issued by authorised oil companies beyond the existing price to the extent of Rs 3.36 (petrol) and Rs 1.80 (diesel) shall be exempted from payment of Manipur VAT 2004.The source also explained that roll-back from the Central Government's recently fixed rate would be 57 paise for petrol with diesel to cost 22 paise less which would subsequently sum up to loss of about Rs 2.44 crore to the State exchequer.

The order envisages addition to Manipur VAT at the rate of 22 percent per litre of petrol and 12.5 percent in case of diesel for the same quantity, the source informed.

When contacted, officials of PhulchandTrilokchand Oil Depot disclosed that from the previous rates (perlitre) of Rs 42.79 and Rs 30.37 respectively for petrol and diesel the recent hike effected by the Centre had consequently resulted in IOC allotting petrol to the State depots including profit margin at Rs 46.82 and Rs 32.40.On the otherhand, official source contended that until the oil company furnishes exact figure of profit margin granted to fuel depots effect of the new rates could not be pronounced to the public at the current juncture.

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