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Central government earns Rs 33 per liter for petrol and Rs 32 per liter for diesel, confesses in Parliament

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Central government earns Rs 33 per liter for petrol and Rs 32 per liter for diesel, confesses in Parliament

New Delhi: Petrol And DieselDespite the public outcry over rising petrol prices, the central government has said in Parliament that it has collected huge revenue on petrol and diesel prices. Since May 6 last year, the central government has imposed a tax of Rs 33 per liter on petrol and Rs 32 per liter on diesel. These include excise tax, surcharge and cess.

Compared to the rates between March and May last year, from May 6, 2020, the central government would get Rs 23 per liter for petrol and Rs 19 for diesel.

Between January 1 and March 13 last year, petrol was taxed at Rs 20 per liter and diesel at Rs 16 per liter. From May 6, 2020, the central government has imposed a tax of Rs 33 per liter on petrol and Rs 32 per liter on diesel. This means that from January 1, 2020, the government increased the price of petrol by Rs 13 per liter and diesel by Rs 16 per liter and collected the same amount of tax.

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Minister of State for Finance Anurag Thakur has said that the excise duty imposed on petrol and diesel by the central government is being used for development works. Also, the central government has made it clear that it has no plans to bring fuel under GST.

As the surcharge on petrol-diesel increases, so do the rates. This surcharge goes to the treasury of the excise tax center. VAT is levied by the state government. This means that every drop of petrol-diesel licks your pocket.

At present, the central government levies a tax of Rs 32.98 per liter on petrol and Rs 31.83 per liter on diesel. Taxes do not stop there. The state government levies a separate tax on it. The Maharashtra government imposes 25 per cent VAT on petrol and 21 per cent on diesel. Now more cess is imposed on it too. A cess of Rs 10 per liter is levied on petrol and Rs 3 per liter on diesel.

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