image

Over Rs 19,000 crore collected as Additional Excise Duty on Petrol and Diesal in 2012-13

The Minister of State for Petroleum & Natural Gas Smt. Panabaaka Lakshmi informed the Rajya Sabha in a written reply today that the total amount collected from Additional Excise Duty during the years 2012-13 (Provisional) is 19,333 corre. Smt P. Lakshmi said that the amounts collected during 2011-12 and 2010-11 are Rs 18,428 crore and Rs 16,979 crore respectively. Stating this, she added that as informed by the Ministry of Finance, Department of Revenue, the State-wise information of Additional Excise Duty collected on Diesel and Petrol is not maintained.

Giving further details about collection and apportioning, the Minister said that the revenue from Additional Excise Duty is initially credited to the Consolidated Fund of India and thereafter, Parliament; by appropriation credit such proceeds after adjusting cost of collection to the Central Road Fund (CRF). The CRF is, thereafter, distributed by Planning Commission amongst three Ministries i.e. Ministry of Rural Development, Ministry of Railways and Ministry of Road Transport & Highways in the manner prescribed under section 10(viii) of the Central Road Fund Act, 2000.

The Minister also said that the Government is collecting Additional Excise Duty (Road Cess) on Petrol and Diesel at ` 2.00 per litre. In addition, Education Cess @ 2% and higher Education Cess @ 1% (total 3%) is also applicable on excise duty and customs duty levied on petroleum products.

*****

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Leave a Reply

Your email address will not be published. Required fields are marked *

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

India’s Leading Compliance Software

India’s Leading Compliance Software

Get A Demo Today !

Recent Articles

Recent Legal updates

Recent Gst Updates