Centre Got Rs 94,181 Crore As Excise Duty Levy On Petrol, Diesel In June Quarter

Centre has obtained file collections via excise obligation levy on petrol and diesel

The Centre has collected Rs 94,181 crore via excise obligation levy on petrol and diesel through the first quarter interval of 2021-22.

Read also: Samsung’s Galaxy XR: A New Spark in the Mixed Reality Race

Excise obligation on petrol was hiked from Rs 19.98 per litre to Rs 32.9 in 2020-21 in an effort to make the most of falling worldwide crude costs, which had dipped sharply through the earlier fiscal as a result of Coronavirus pandemic which had erupted throughout that 12 months.

This info was supplied to the Lok Sabha via a written reply by Minister of State for Petroleum and Natural Gas Rameswar Teli to a slew of questions on rising petrol and diesel costs, which have crossed the Rs 100 mark in a number of states throughout the nation.

Read also: Walmart Says AI Can Personalize Shopping — Not Prices

Similarly the excise obligation on diesel was additionally hiked to Rs 31.8 from Rs 15.83 a litre, based on the minister's reply.

Read also: Semiconductor Boom Is Getting Bigger Than AI

This led to excise collections on petrol and diesel leaping to Rs 3.35 lakh crore in 2020-21 (April 2020 to March 2021), from Rs 1.78 lakh crore a 12 months again, he mentioned.

Collections would have been larger however for gas gross sales falling as a result of lockdown and different restrictions imposed to curb the unfold of the coronavirus pandemic, which muted financial exercise and stalled mobility, the minister additional added within the reply.