Windfall Tax Cut: Government Slashes Petrol, Diesel And ATF Export Duty From September 16 Amid West Asia Tensions
New Delhi: The government has cut windfall gains tax on export of petrol, diesel and ATF for the fortnight beginning September 16. Also Watch: The rate of special additional excise duty (SAED) along with road and infrastructure cess on export of diesel is now Rs 20 per litre, down from Rs 25 a litre. SAED on export of ATF is set at Rs 15/litre, as against 19/litre earlier. Duty on petrol exports…
The government has reduced windfall gains tax on the export of petrol, diesel, and ATF starting September 16, amid growing tensions in West Asia. The special additional excise duty (SAED) on diesel exports is now Rs 20 per litre, down from Rs 25, while SAED on ATF exports is set at Rs 15 per litre, compared to 19 earlier. Petrol exports will now face a duty of Rs 0.5 per litre, down from Rs 1.5 per litre.
The Finance Ministry announced these duty cuts in a notification. West Asia tensions led to the imposition of export duties on diesel and ATF on March 27, and petrol exports since May 16. The tax was introduced to ensure domestic availability of fuel amid the crisis and to prevent exporters from exploiting price differences due to rising global crude oil prices.
The tax aims to prevent any undue advantage for exporters. Domestic fuel availability remains unaffected by these changes.
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