Indian Government Hikes Windfall Tax on Diesel and ATF Exports
The Indian government has increased the windfall tax on diesel exports to Rs 14/litre and on Aviation Turbine Fuel (ATF) to Rs 12.5/litre. This move aims to capture a portion of the high profits made by oil companies.
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Govt hikes export duty on diesel to Rs 14/litre, ATF to Rs 12.5/litre
Under the revised rates, the special additional excise duty (SAED) on diesel exports has been raised to Rs 14 per litre from Rs 13.5 per litre. The duty on ATF exports has been increased to Rs 12.5 per litre from Rs 9.5 per litre. The export duty on petrol remains unchanged at Rs 1.5 per litre. According to a notification issued by the finance ministry, the revised rates will come into effect from June 16.
By TOI BUSINESS DESK
Read full article →Centre Hikes Windfall Tax On Diesel
The government on Monday hiked windfall gains tax on exports of diesel and aviation turbine fuel (ATF), while retaining the levy on petrol for the fortnight beginning June 16.
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