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Centre hikes windfall tax on domestic crude, cuts levy on export of diesel, ATF

The duty on jet fuel or Aviation Turbine Fuel (ATF) will be reduced to ₹2.5 per litre

Published - September 30, 2023 12:22 am IST - New Delhi

PTI
The SAED or duty on export of diesel will be cut to ₹5 per litre, from ₹5.50 per litre currently. Image for representation purpose only. File

The SAED or duty on export of diesel will be cut to ₹5 per litre, from ₹5.50 per litre currently. Image for representation purpose only. File | Photo Credit: AP

The government on Friday hiked special additional excise duty (SAED) on crude petroleum to ₹12,100 per tonne with effect from September 30.

In the last fortnightly review on September 15, windfall tax on domestically produced crude oil was set at ₹10,000 per tonne.

Besides, the SAED or duty on export of diesel will be cut to ₹5 per litre, from ₹5.50 per litre currently.

The duty on jet fuel or Aviation Turbine Fuel (ATF) will be reduced to ₹2.5 per litre effective Saturday, from ₹3.5 per litre currently.

The SAED on petrol will continue at nil.

India first imposed windfall profit taxes on July 1, 2022. 

Related Topics

economy, business and finance / business (general)

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