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Government earned Rs 8 lakh crore within the final three years by means of taxes levied on fuels
New Delhi: Government earned round Rs 8 lakh crore from taxes levied on petrol and diesel within the final three monetary years, finance minister Nirmala Sitharaman knowledgeable Parliament on Tuesday.Out of the full quantity, greater than Rs 3.71 lakh crore was collected in 2020-21 itself, she knowledgeable in a written reply to a query in Rajya Sabha.The excise obligation on petrol rose from Rs 19.48 per litre as on October 5, 2018 to Rs 27.90 a litre as on November 4, 2021. The obligation on diesel rose from Rs 15.33 a litre to Rs 21.80 throughout the identical interval, Ms Sitharaman mentioned whereas giving particulars on excise obligation hike on gas costs.Within this era, the excise on petrol fell from Rs 19.48 per litre as of October 5, 2018 to Rs 17.98 as of July 6, 2019; whereas excise on diesel lowered from Rs 15.33 to Rs 13.83 throughout the identical reference interval.The excise duties on petrol and diesel have been on a rising trajectory until February 2, 2021, to Rs 32.98 and Rs 31.83 respectively, earlier than falling a tad after which declining additional to Rs 27.90 a litre (petrol) and Rs 21.80 (diesel) as on November 4, 2021."The central excise duties, including cesses collected from petrol and diesel, during the last three years are: Rs 2,10,282 crore in 2018-19; Rs 2,19,750 crore in 2019-20 and Rs 3,71,908 crore in 2020-21," the finance minister mentioned.Just earlier than Diwali this 12 months on November 4, the federal government slashed the excise duties on petrol and diesel by Rs 5 and Rs 10 a litre, respectively.This was adopted by a number of states saying a lower within the worth added tax (VAT) on petrol and diesel.
