New Delhi40 minutes ago
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Petrol and diesel will not come under the purview of GST. The government gave this informati on in the Lok Sabha on Monday. Minister of State for Petroleum and Natural Gas Rameshwar Teli said that till now the GST Council has not made any recommendation to bring oil and gas under the purview of GST. Rameshwar Teli gave this information in writing on the question asked by the MPs in the House.
MPs asked questions
Many MPs in the House had questioned the reduction in the prices of petrol and diesel and bringing petroleum products under the purview of GST. On which Minister Rameshwar Teli said that at present there is no plan to bring petroleum products under the purview of GST. And so far the GST Council has not recommended the inclusion of oil and gas in the purview of GST. Therefore, for the time being, petroleum will be kept out of the purview of GST.
Excise duty is used in development works
The Finance Ministry said that excise duty on petroleum is collected by the government. This excise duty is used for infrastructure and development work. This decision has been taken keeping in view the current fiscal condition.
income from excise duty
The Minister of State for Petroleum and Natural Gas also told about the earnings from excise duty on petrol and diesel in the Lok Sabha. According to Rameshwar Teli, in the financial year 2020-21, the tax collected by the central government on petrol and diesel has increased by 88%. Excise duty on petrol has increased from Rs 19.98 to Rs 32.90. At the same time, the excise duty on diesel has increased from Rs 15.83 to Rs 31.80.
3.35 lakh crore collection from excise duty
In the financial year 2020-21, the collection from excise duty on petrol and diesel stood at 3.35 lakh crores. At the same time, the excise duty collection in 2019-20 was Rs 1.78 lakh crore. It has increased by 88% on a yearly basis. The excise duty collection in 2018-19 stood at Rs 2.13 lakh crore.
1 lakh crore recovered so far in the current financial year
Minister of State for Finance Pankaj Chaudhary said that in the current financial year, between April-June, Rs 1.01 lakh crore has been collected as excise duty from all petroleum products so far. The total excise duty collection in the financial year 2020-21 stood at Rs 3.89 lakh crore.
Today’s Petrol-Diesel Price
Today, the price of petrol in Delhi is Rs 101.84 and that of diesel is Rs 89.87 per liter. The price of petrol in Mumbai is Rs 107.83 and that of diesel is Rs 97.45 per litre. Petrol price in Kolkata is Rs 102.08 while diesel is priced at Rs 93.02 per litre. At the same time, in Chennai, petrol is beyond 100, here petrol is Rs 102.49 per liter and diesel is Rs 94.39 per liter.