New Delhi: Regardless of lower sales due to pandemic, central tax collection from gasoline and diesel in 2020-21 barbed 88% to more than RS 3 Lakh Crore – notes led by leaps of 108% of Diesel – as a result of short-term improvement Last year in customs.
This center has raised customs from Rs 13 per liter on gasoline and Rs 16 on Diesel between March-End and May 2020 when oil prices fell due to a pandemic.
Revisions raised customs from 65% on gasoline from Rs 19.98 to Rs 32.98 per liter and 79% on diesel from Rs 15.83 to RS 28.35.
As a result, the collection of diesel – the most consumed fuel – more than doubled to Rs 2.3 Lakh Crore from Rs 1,12,032 Crore in 2019-20.
The mop-up of gasoline swells 53% to more than Rs 1 lakh Crore from RS 66,279 Crore in Fiscal Pre-Pandemi, the government told Lok Sabha on Monday.
Higher excise collections of gasoline and diesel raise the overall tax collection from petroleum products, including jet fuel, natural gas and CESS in domestic crude oil, by 74% to the crore of Rs 3.4 lakh, the government said in a written reply.
The overall collection of excise in the April-June quarter of the financial year has now established in more than Rs 1 Lakh Crore, the government told the house in response to separate questions.
The center has boosted customs to generate income to fund its fight against Covid by sucking the increase in fortune fortune made by staterun perfotations when oil prices fall.
Countries follow it by maintaining VAT.
Excise from Gasoline, Diesel Up 88% at RS 3 Lakh Crore at FY21
