Govt Revises Fuel Export Levies From June 1 Waives Cotton Duty Till Oct 2026

(MENAFN- KNN India) New Delhi, Jun 1 (KNN) The Central Government over the weekend announced a revised set of export levies on petrol, diesel, and aviation turbine fuel (ATF), alongside a temporary waiver of customs duties on cotton imports - two measures aimed at ensuring domestic supply stability and supporting key industrial sectors.

Fuel Export Levies Revised for June Fortnight

Export levies in the form of Special Additional Excise Duty (SAED) and Road and Infrastructure Cess (RIC) on petrol, diesel, and ATF were introduced on 27th March 2026 to curb exports and ensure sufficient domestic availability of petroleum products amid the ongoing West Asia crisis, with the rates being reviewed every fortnight based on prevailing international crude oil and fuel prices.

Effective 1st June 2026, the revised rates have been set at Rs 1.5 per litre for petrol, entirely as SAED with no RIC component, Rs 13.5 per litre for diesel, again fully as SAED with no RIC, and Rs 9.5 per litre for ATF under SAED.

The government has also clarified that there is no change in excise duty rates on petrol and diesel meant for domestic consumption.

Cotton Import Duties Waived Till October

In a separate measure, the government has fully exempted customs duties on cotton imports from 1st June to 31st October, 2026, to address supply constraints facing the domestic textile industry during the cotton off-season.

The temporary exemption is intended to moderate input costs for textile and apparel manufacturers, benefit small and medium enterprises, and improve cotton availability in the market - while the government maintained that the interests of domestic cotton farmers and the broader cotton value chain had been kept in consideration.

The measure is expected to strengthen the competitiveness of Indian textiles and provide near-term relief to manufacturers and consumers alike.

(KNN Bureau)

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