INSUBCONTINENT EXCLUSIVE:
Import tax duty collections on fuel items have increased over past 2 yearsExcise responsibility collection from petroleum items rose 33
percent in the first half of the existing financial, even as fuel costs continue to rise and develop new records while denting the common
man.The quantum of increase in collections of excise task on fuel items can be assessed from the truth that 33 percent development was
compared to the exact same duration of last year and was 79 percent more than the pre-Coronavirus levels.As per the data provided by the
Controller General of Accounts (GCA), excise collections on fuel products throughout April-September 2021 rose to over Rs 1.71 lakh crore
from Rs 1.28 lakh crore gathered in the exact same duration of the previous fiscal.The excise task collections throughout 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 intro of the Goods and
Services Tax (GST) program, import tax task is imposed just on petrol, diesel, aviation turbine fuel (ATF) and natural gas
Barring these products, all other products and services are under the GST regime.
