In a written reply to a question asked in Rajya Sabha Minister wrote More than 3.71 lakh crore was collected in 2020-21, out of the total amount.
New Delhi: Finance Minister on Tuesday informed the Parliament that Government earned around ₹ 8 lakh crore from taxes levied on petrol and diesel in the last three financial years.
In a written reply to a question asked in Rajya Sabha Minister wrote More than 3.71 lakh crore was collected in 2020-21, out of the total amount.
The excise duty on petrol rose from ₹ 19.48 per litre as on October 5, 2018 to ₹ 27.90 a litre as on November 4, 2021. The duty on diesel rose from ₹ 15.33 a litre to ₹ 21.80 during the same period, Ms Sitharaman said while giving details on excise duty hike on fuel prices.
Within this period, the excise on petrol fell from ₹ 19.48 per litre as of October 5, 2018 to ₹ 17.98 as of July 6, 2019; while excise on diesel reduced from ₹ 15.33 to ₹ 13.83 during the same reference period.
The excise duties on petrol and diesel were on a rising trajectory till February 2, 2021, to ₹ 32.98 and ₹ 31.83 respectively, before falling a tad and then declining further to ₹ 27.90 a litre (petrol) and ₹ 21.80 (diesel) as on November 4, 2021.
“The central excise duties, including cesses collected from petrol and diesel, during the last three years are: ₹ 2,10,282 crore in 2018-19; ₹ 2,19,750 crore in 2019-20 and ₹ 3,71,908 crore in 2020-21,” the finance minister said.
Just before Diwali this year on November 4, the government slashed the excise duties on petrol and diesel by ₹ 5 and ₹ 10 a litre, respectively.
This was followed by several states announcing a cut in the value added tax (VAT) on petrol and diesel.
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