Windfall Tax On Diesel, Petrol Exports Raised ATF Levy Cut

(MENAFN- KNN India) New Delhi, Sep 2 (KNN) The government has raised the windfall tax on petrol and diesel exports while marginally reducing the levy on aviation turbine fuel (ATF) for the next fortnight, effective September 1.

The Special Additional Excise Duty (SAED), along with road and infrastructure cess, on diesel exports has been increased to Rs 25 per litre from Rs 24. The levy on petrol exports has been raised to Rs 1.5 per litre from zero.

Meanwhile, the SAED on ATF exports has been reduced to Rs 19 per litre from Rs 19.5, the Finance Ministry said in a notification, PTI reported.

Duty on Domestic Fuel Unchanged

There is no change in the existing duty rates on petrol and diesel cleared for domestic consumption.

The government first imposed export duties on diesel and ATF on March 27 amid the escalating West Asia conflict and has revised the rates every fortnight. The levy on petrol exports was introduced from May 16.

The windfall tax was imposed to ensure adequate domestic availability of petroleum products and discourage exporters from benefiting excessively from higher global crude oil prices amid the West Asia crisis.

(KNN Bureau)

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