Centre cuts windfall tax on diesel exports, raises levy on petrol
The Centre has cut the diesel export levy to ₹8.50 a litre and raised the petrol levy to ₹2.50, while keeping the aviation turbine fuel duty unchanged amid rising oil prices.
The Indian government has made changes to the windfall tax on diesel and petrol exports amid rising tensions in West Asia and increasing oil prices. The Centre has reduced the windfall tax on diesel exports from ₹16 per litre to ₹8.50 per litre, while raising the levy on petrol exports from ₹0.50 to ₹2.50 per litre. The levy on aviation turbine fuel remains unchanged at ₹10.50 per litre.
The windfall tax was introduced to ensure domestic availability of petroleum products and prevent exporters from taking advantage of the price differential between domestic and international markets.
Brief written by urgent.news from Live Mint's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
