Excise duty collection jump 48% this fiscal on record hike in taxes on petrol, diesel

NEW DELHI : While the pandemic pummelled tax collection across the board, excise duty mop-up jumped 48 per cent in the current fiscal on the back of a record increase in taxes on petrol and diesel, that more than made up for the below normal fuel sales.

Excise duty collection during April-November 2020, was at ₹1,96,342 crore, up from ₹1,32,899 crore mop-up during the same period in 2019, according to data from the Controller General of Accounts (CGA).

This despite the fact that over 10 million tonnes less diesel – the most used fuel in the country – was sold during the eight months period.

Diesel sales during April-November 2020, stood at 44.9 million tonnes as compared to 55.4 million tonnes a year back, according to data from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC).