New Delhi: Union Finance Minister Nirmala Sitharaman has said that the central government has earned around Rs 8.02 lakh crore from taxes on petrol and diesel during the last three financial years.
Sitharaman said that out of about Rs 8.02 lakh crore from taxes on petrol and diesel, over Rs 3.71 lakh crore was collected in the financial year 2020-21 alone.
“The central excise duty including cess collected from petrol and diesel during the last three years is: Rs 2,10,282 crore in 2018-19; 2,19,750 crore in 2019-20 and Rs 3,71,908 crore in 2020-21,” she said, PTI reported.
Responding to the details of the increase in excise duty on petrol and diesel during the last three years and the revenue earned through various taxes on these fuels, Sitharaman said the excise duty on petrol stood at Rs 19.48 per liter as on October 5. 2018, Rs 27.90 per liter till November 4, 2021.
During the same period, the duty on diesel increased from Rs 15.33 per liter to Rs 21.80, the Finance Minister said in a written reply in Rajya Sabha on Tuesday.
During this period, the excise duty on petrol fell from Rs 19.48 per liter as on October 5, 2018 to Rs 17.98 as on July 6, 2019. The excise duty on diesel declined from Rs 15.33 to Rs 13.83 during the same reference period.
Excise duty on petrol and diesel increased to Rs 32.98 and Rs 31.83 respectively till February 2, 2021. Petrol and diesel prices rose to Rs 27.90 per liter and Rs 21.80 per liter respectively on November 4, 2021.
The central government had earlier cut excise duty on petrol and diesel by Rs 5 and Rs 10 per liter respectively on November 4.
Following the decision taken ahead of Diwali this year, several states announced reduction in Value Added Tax (VAT) on the two fuels.
,