Fuel products contribute 60 pc of central excise revenue

Fuel products contribute 60 pc of central excise revenue

The Centre's total collection of excise duties was Rs 1.02 lakh crore in 2009-10.
As per the CAG report, while motor spirit account for 24.12 per cent of the government's total excise revenue, refined diesel oil with a share of 22.49 per cent, other mineral oils at 12.16 per cent and furnace oil with 2.38 per cent.

The combined revenue from all the above mentioned categories makes fuel and petroleum the largest conributor to central excise revenue at over Rs 58,200 crore in the 2009-10 fiscal, the 'Compliance Audit Report (Indirect Taxes-Central Excise)' of CAG tabled in Parliament said.

In 2009-10, the revenue from motor spirit was Rs 24,809.46 crore, the highest among all the items. In the second place was refined diesel oil which contributed to Rs 23,130.05 crore, the Comptroller and Auditor General said.

All other mineral oils and products cumulatively fetched Rs 12,510.37 crore, while the share of furnace oil was Rs 2,445.72 crore in the excise revenue during the fiscal.

Other major contributors to excise duty were cigarettes and cigarillos with a share of Rs 9,310.24 crore (or 9.29 per cent), iron and steel at Rs 8,479.16 crore (8.24 per cent), cement at Rs 5,185.10 crore (5.04 per cent), and motor cars and other motor vehicles at Rs 3,958.34 crore (3.84 per cent).

Interestingly, among the 15 commodities that contributed to over Rs 1,000 crore in excise duty, eight reported a fall in their total collection in 2009-10 as against the figure of the previous fiscal.

However, revenue from motor spirit and refined diesel oil were up by 17.71 per cent and 7.40 per cent, respectively, year-on-year. Collections from furnace oil also went up by 14.54 per cent.