New Delhi, Aug. 8
The Government on Tuesday said that it has no proposal under its consideration for a change in excise duty structure and rates of petroleum products. "At present, there is no proposal under the consideration of the government to make change in excise duty structure and rates on petroleum products," Mr S.S. Palanickam, Minister of State for Finance, told the Rajya Sabha in a written reply.
The Minister was responding to a question on whether the Government has any plans to levy duties/taxes on specific duty structure to give some relief to consumers of petroleum products.
Provisional data showed that excise duty collections from petroleum products during 2005-06 stood at Rs 51,750 crore. On the other hand, Customs duty collections on petroleum products imports in 2005-06 stood at Rs 11,394 crore.