Excise Duty Collections On Fuel Saw 48% Jump During April-July 2021-22

Excise obligation collections on gas throughout April-July interval of present fiscal have proven wholesome progress

Excise obligation on petroleum merchandise witnessed a leap of 48 per cent throughout April-July interval of the present monetary yr i.e. 2021-22, as they stood at Rs 1 lakh crore, in comparison with Rs 67,895 crore in the course of the corresponding interval of final yr, in accordance with the Controller General of Accounts information, 

The incremental collections have been to the tune of Rs 32,492 crore in the course of the April-July interval of the present fiscal, the information mentioned additional.

Petrol and diesel do not come beneath the purview of Goods and Services Tax (GST) and excise obligation remains to be levied on them. Aviation Turbine Fuel (ATF) and pure gasoline are the opposite two commodities on which GST will not be levied.

The improve in excise obligation collections is especially resulting from gas gross sales going up as regionally imposed lockdowns have been eased and visitors motion has gone up, particularly in the course of the interval talked about above. The elevated sale of petrol and diesel led to the rise in excise obligation collections.

The collections additionally rose as petrol and diesel costs until a month again have been persistently rising, crossing the Rs 100 per litre mark in a number of cities of the nation.