Centre cuts windfall tax on diesel exports, raises levy on petrol
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Centre cut the windfall tax on diesel exports to ₹8.50 per litre while raising the levy on petrol to ₹2.50 per litre from 16 October.
- ✓These changes follow rising oil prices and tensions in West Asia.
- ✓Domestic fuel duty rates remain unchanged as India continues its regular export revisions.
Story at a Glance
- Category
- BUSINESS
- Reported By
- mint
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Centre has cut the windfall tax on diesel exports while raising the levy on petrol exports for the fortnight beginning 16 October, amid escalating tensions in West Asia and rising oil prices.
The combined rate of special additional excise duty (SAED) and road and infrastructure cess on diesel exports has been cut to ₹8.50 per litre from ₹16 per litre. The SAED on petrol exports has been raised to ₹2.50 per litre from ₹0.50 over the previous fortnight. The levy on aviation turbine fuel (ATF) remains unchanged at ₹10.50 per litre.
Amid escalating tensions in West Asia, the government imposed an export duty on diesel and ATF on 27 March, revising the rates every fortnight. The levy was extended to petrol exports from 16 May.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
mint
Read the full, original unfiltered story directly on the publisher's portal.