excise collection

Govt’s excise mop-up from petrol, diesel doubles to Rs 3.7 lakh cr in FY21; states get Rs 20,000 cr

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Govt’s excise mop-up from petrol, diesel doubles to Rs 3.7 lakh cr in FY21; states get Rs 20,000 cr

The central government’s mop-up from excise duty levied on petrol and diesel more than doubled to Rs 3.72 lakh crore in the pandemic year 2020-21, out of which states were given less than Rs 20,000 crore, according to a reply by the government in the Rajya Sabha on Tuesday. Minister of State for Finance Pankaj … Read more

Govt’s excise collection jumps 48% in April-July; already 3x of full fiscal oil bond liability

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Govt’s excise collection jumps 48% in April-July; already 3x of full fiscal oil bond liability

The government’s collections from levy of excise duty on petroleum products have jumped 48 per cent in the first four months of the current fiscal year, with the incremental mop-up being 3-times of the repayment liability of legacy oil bonds in the full fiscal, official data showed. Data available from the Controller General of Accounts … Read more