Excise Duty Collections On Fuel Products Rose 33% In First Half of 2021-22

Excise duty collection from petroleum products rose 33 per cent in the first half of the current fiscal, even as petrol prices continue to surge and create new records while denting the common man.

The quantum of increase in collections of excise duty on fuel products can be gauged from the fact that 33 per cent growth was compared to the same period of last year and was 79 per cent more than the pre-Coronavirus levels.

As per the data made available by the Controller General of Accounts (GCA), excise collections on fuel products during April-September 2021 rose to over Rs 1.71 lakh crore from Rs 1.28 lakh crore collected in the same period of the previous fiscal.

The excise duty collections during April-September 2019 were Rs 95,930 crore. Compared to this figure, the Rs 1.71 lakh crore mop-up for April-September 2021 was 79 per cent.

During the entire 2020-21 fiscal, excise collections were Rs 3.89 lakh crore and in 2019-20, they were at Rs 2.39 lakh crore, the data showed.

After the introduction of the Goods and Services Tax (GST) regime, excise duty is levied only on petrol, diesel, aviation turbine fuel (ATF) and natural gas. Barring these products, all other goods and services are under the GST regime.