NEW DELHI: The government earned Rs 3.4 lakh crore from central excise duty and cess on petroleum products in the financial year 2020-21, Petroleum Minister Hardeep Singh said. Puri informed Lok Sabha on Monday, saying that it used a major chunk of the money to provide free vaccines and relief to the poor through the PM Garib Kalyan YojanaUnder which free ration was given to 80 crore beneficiaries during April-November 2020 and May-June this year.
“The excise duty/cess collected (by the central government) from petrol during the financial year 2020-21 (which ended March 31 this year) is Rs 1,01,598 crore and from diesel is Rs 2,33,296 crore,” Puri said. In written answer to a question.
“The excise duty/cess collected (by the central government) from petrol during the financial year 2020-21 (which ended March 31 this year) is Rs 1,01,598 crore and from diesel is Rs 2,33,296 crore,” Puri said. In written answer to a question.
The minister said that high taxes levied by the states on petrol and diesel have led to a rise in the prices of these essential fuels. Madhya Pradesh levies highest sales tax or tub on petrol in the country, while Rajasthan Rajasthan Diesel has the highest tax, Puri said.
Taxes up to 55% of the retail price of petrol and 50% of diesel are taxed by both the Center and the states.
While the central government levies a fixed excise duty of Rs 32.90/litre on petrol and Rs 31.80/litre on diesel, states levy an ad valorem rate of VAT, resulting in an increase in tax per liter when prices rise, and when rates are low. goes.
.