New Delhi: The Indonesian Union Government’s tax collection on gasoline and Diesel jumped 88 percent to Rs 3.35 lakh Crore that year until March 31, after the customs of the customs was raised to a high record, Lok Sabha was informed on Monday.
Customs on gasoline was clouded from Rs 19.98 per liter to Rs 32.9 years ago to regain advantages arising from international oil prices that fall to multi-pandemic levels.
The same thing on Diesel was raised to Rs 31.8 from Rs 15.83 per liter, according to a written reply to the questions given by the Minister of State for Oil and Gas Rameswar Teli in Lok Sabha.
This caused the collection of excise to gasoline and diesel to jump to the 3.35 lakh crore at 2020-21 (April 2020 to March 2021), from Rs 1.78 lakh Crore per year ago, he said.
The collection will be higher but for the sale of fuel falling due to other locking and restrictions imposed to curb the spread of the coronavirus pandemic, which dampens economic activity and traffic mobility.
In 2018-19, the collection of excise at gasoline and diesel was Rs 2.13 Lakh Crore.
For separate questions, the State Minister for Finance Pankaj Chaudhary said the tax collection in April-June this year amounted to Rs 1.01 Lakh Crore.
This number includes excise in not only gasoline and diesel but also ATF, natural gas and crude oil.
The total collection of excise at FY21 is Rs 3.89 lakh Crore.
“Prices of gasoline and diesel are determined by the market from June 26, 2010 and October 19, 2014,” said Teli.
Since then, the public sector oil marketing company (OMC) has made the right decision about gasoline and diesel prices based on international product prices and other market conditions.
“OMC has increased and reduced the price of gasoline and diesel in accordance with changes in international prices and rupee-dollar exchange rates,” he added to “effective June 16, 2017, the daily price of gasoline and diesel has been carried out throughout the country.” Last year’s tax increase did not produce revisions.
Whatever in retail prices because they are adjusted to the reduction guaranteed due to the decline in international oil prices.
But with the re-demand, international oil prices have soared, which has been translated to record high prices of gasoline and diesel throughout the country.
More than one half a dozen countries and union areas have more than RS 100-a-liter and diesel rs at that level in Rajasthan, Madhya Pradesh and Odisha.
Teli said prices vary from state to country because of the level of shipping and local VAT / LIKAN.
“The impact of the increase in gasoline and diesel prices can be seen in its impact on inflation trends measured by the wholesale price index (WPI),” he said.
“The amplifier of gasoline, diesel and LPG in the WPI index is 1.60 percent, 3.10 percent and 0.64 percent respectively.” He said during the current 2021-22 fiscal, gasoline prices have increased in 39 occasions and diesel in 36.
The price of gasoline has been cut on one occasion during this period and diesel on two occasions.
There are no changes in the remaining days.
In the previous 2020-21, the price of gasoline was stopped at 76 occasions and cut 10 while diesel rates rose 73 times and decreased on 24 occasions, the answer showed.