Centre raises windfall tax on petrol, diesel and ATF exports from August 3
India has increased export duties on petrol, diesel, and aviation fuel. These revised rates will be effective from August 3 for the next fortnight. Domestic fuel duties remain unchanged, providing stability for local consumers. This move follows a reduction in commercial LPG prices earlier this month. The government is assessing global conflicts' impact on India's supply chains.
The Indian government has increased the windfall tax on fuel exports, specifically petrol, diesel, and aviation turbine fuel (ATF), effective from August 3. The special additional excise duty (SAED) on diesel exports has been raised to Rs 25.5 per litre, while the levy on ATF exports has increased to Rs 22 per litre. The duty on petrol exports has also gone up to Rs 3.5 per litre.
These revisions come as tensions in the Middle East escalated, leading to a review and revision of the export duty rates every fortnight since March 27. The windfall tax was introduced to ensure adequate availability of petroleum products within the country during such crises and to prevent exporters from benefiting from the price gap created by the rise in global crude oil prices post the outbreak of the conflict.
Recently, the price of commercial LPG cylinders was reduced, offering relief to various commercial users.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
