New Delhi: Central Tax Collection from the Oil Sector Swell 36 Percent on 2020-21 to more than Rs 4.5 lakh Crore from RS 3.3 Lakh Crore in 2019-20, supported by the last year tax increase in gasoline and diesel, government data is presented in parliament on Monday’s show.
Taxes on gasoline and diesel, including customs and various Cesss, contributed to the 3.7 lakh crore at 2020-21, up 68 percent from Rs 2.2 lakh Crore in 2019-20, the Minister of Finance Junior Panka Choudhary told Lok Sabha in Written reply.
Separately, Petroleum Minister Junior Rameshwar Teli told Rajya Sabha in a written reply that countries collected Rs 2,02,937 Crore as sales / VAT tax on gasoline and diesel in 2020-21, only 1 percent higher than Rs 2,00,493 Crore .
Data clarified that the center was wrong in blaming the state tax for a record of fuel prices, which actually shot through the roof because of the sharp increase in customs in the period March-May 2020 strengthened the impact of the increase in oil prices.
The center has raised customs from Rs 13 per liter on gasoline and RS 16 on Diesel when oil prices fall due to covid pandemic.
Revisions raised customs from 65 percent on gasoline from Rs 19.98 to RS 32.98 per liter and 79 percent on diesel from Rs 15.83 to RS 28.35.
This resulted in a collection of excise from Diesel, the most consumed fuel, more than doubled to RS 2.3 lakh crore from RS 1.1 Lakh Crore in 2019- 20.
The mop-up of gasoline swelled 53 percent to more than RS 1 lakh crore from RS 66,279 Crore in Pre-Pandemi Fiscal, Government Data is presented in Lok Sabha in July.
FY21 Center oil tax mop-up rose 36% on rising excise
