PINAKI MAJUMDAR
Jamshedpur, April 9: In a major boost for Jharkhand’s industrial and mining sectors, the state government has reduced VAT on bulk High-Speed Diesel (HSD) purchases to a flat 15%, down from the earlier 22% or ₹12.50 per litre, whichever was higher.
The decision, approved in a recent cabinet meeting, is expected to ease operational costs and spur economic activity.
The Singhbhum Chamber of Commerce and Industry (SCCI), Kolhan ‘s biggest trade body played a key role in this outcome.
President of SCCI Vijay Anand Moonka and honorary general secretary Manav Kedia hailed the move as a forward-looking step to foster industrial and commercial growth.
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Kedia highlighted that the Chamber had formally urged the government to address high diesel costs for industries, mining operations, and works contracts.
While the government responded positively for industries and mining, it left out the works contract sector.
Advocate Rajeev Agrawal and SCCI’s vice-president, welcomed the decision but voiced concern over this omission. He reaffirmed the Chamber’s resolve to continue lobbying for VAT relief for all sectors, including works contracts.
The trade outfit reaffirmed its commitment to advocating business-friendly policies that drive Jharkhand’s economic development.