New Delhi: Government has collected Rs 69,809 crore through cess imposed on petrol and diesel in the last financial year, Parliament was informed on Tuesday.
- It collected Rs 17,217 crore through cess on petrol
- Rs 52,592 crore was collected via cess on diesel
- These levies are deemed to be a cess for Central Road Fund Act
It collected Rs 17,217 crore through cess on Motor Spirit (Petrol) and Rs 52,592 crore via cess on High Speed Diesel Oil, Minister of State for Finance Santosh Kumar Gangwar said in a written reply to Rajya Sabha.
An additional duty of excise is levied and collected on Motor Spirit (Petrol) under the section 111 of Finance (No 2) Act 1998.
Also an additional duty of excise is levied and collected, on High Speed Diesel Oil under Section 133 of the Finance Act, 1999.
These levies are deemed to be a cess for the purpose of the Central Road Fund Act, 2000.
Replying to a separate query, Gangwar said the impact of direct tax incentives (Corporate Income Tax and Personal Income Tax) on account of exemptions in last financial year stood at Rs 1,28,639 crore.
Besides, the impact of indirect tax exemptions (Customs duty and Excise Duty) on account of exemptions of 2015-16 is estimated at Rs 4,82,489 crore.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)