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- The Central Government Earned Rs 4.51 Lakh Crore From Customs And Excise Duty On Petroleum Products, 56% More Than Last Year.
MumbaiOne hour ago
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In the deadly phase of the epidemic, the central government earned a lot from customs duty and excise duty on petroleum products. The revenue coming from indirect tax to the government increased by about 56.5% to a total of Rs 4 lakh 51 thousand 542.56 crore. This was informed in the Right to Information (RTI).
4.13 lakh crore rupees came to the exchequer from central excise
According to the report, customs duty of Rs 37 thousand 806.96 crore was collected on import of petroleum products in the financial year 2020-21. At the same time, Rs 4 lakh 13 thousand 735.60 crore was earned from Central Excise Duty on the manufacturing of these products in the country.
In response to RTI, it was said that in 2019-20, the government got a revenue of Rs 46 thousand 46.09 crore in the form of customs duty on the import of petroleum products. At the same time, Rs 2 lakh 42 thousand 267.63 crore was recovered from the Central Excise Duty on the manufacturing of these products in the country. Now if we look at both types of tax collection, a total of Rs 2 lakh 88 thousand 313.72 crore was deposited in the government treasury in 2019-20.
Information received from RTI
The information about the tax deposited in the government treasury was made public by RTI activist Chandrashekhar of Neemuch district of Madhya Pradesh, who had sought an RTI reply from the Ministry of Finance and the Directorate General of Data Management (DGSDM). This information has become public at a time when there is a strong demand to reduce tax and cess on petrol and diesel.
Economist Jayantilal Bhandari said that not only the common man, but the condition of the entire economy has deteriorated due to expensive petrol and diesel. Which is already facing the wrath of Corona pandemic. He said that the central and state governments, especially on petrol and diesel, should give relief to the people from inflation by reducing their taxes and cess, which is the need of the hour.