Exchequer Paid Rs 4.55 Lakh Crore As Central Taxes On Petrol, Diesel In 2020-21

State governments collected a total of Rs 2,02,937 crore as sales tax and value-added tax (VAT) in 2022-21

New Delhi: The Union government has collected a total of Rs 4,55,069 crore as taxes and cess on petrol and diesel in the last financial year (2020-21), said Minister of State for Petroleum and Natural Gas Rameswar Teli on Monday. In a written reply to a question in Rajya Sabha, the Union Minister informed that state governments collected a total of Rs 2,02,937 crore as sales tax and value-added tax (VAT) in the same period.

Among the states, Maharashtra collected the maximum amount of 25,430 crore as sales tax and VAT on all petroleum products, followed by Uttar Pradesh collecting an amount of Rs 21,956 and Tamil Nadu collecting Rs 17,063.

The comes at a time when petrol and diesel prices are skyrocketing in the country despites a reduction in central excise duty on petrol by Rs 5 and diesel by Rs 10 on November 3. Many state governments also reduced VAT on fuel following Centre’s announcement. Today, petrol is selling at Rs 95.41 per litre and diesel at Rs 86.67 per litre in Delhi at Indian Oil Corporations filling pumps.

Meanwhile, the global oil prices have reduced with West Texas Intermediate trading at USD 68.07 per barrel and Brent at USD 71.26 per barrel at press time.

India is dependent on imports to meet 85 per cent per cent of its oil demand and 55 per cent of its natural gas requirements. India had spent USD 62.71 billion on crude oil imports in 2020-21.