99% of VAT caused increase in LITRO prices

2 January 2024 10:39 am Views - 1380

Colombo, Jan 2 (Daily Mirror) - The government could have reduced the price of a 12.5 kg LITRO gas cylinder by Rs. 685 if not for the VAT increase, LITRO Lanka Chairman Muditha Peiris said.

In the absence of VAT imposition, there was a possibility of retailing the 12.5kg gas cylinder at a price of Rs. 3,700.

"We have not increased our prices. However, the government's decision to impose VAT has prompted the adjustment. VAT was not applicable and was not imposed on LPG gas previously. The decision to impose VAT on LPG has resulted in the necessity to increase prices in accordance with the government's directive," he said.