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

10:17 AM Sep 16, 2023 | PTI |

The government on Friday hiked special additional excise duty (SAED) on crude petroleum to Rs 10,000 per tonne with effect from September 16.

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In the last fortnightly review on September 1, windfall tax on domestically produced crude oil was set at Rs 6,700/tonne.

Besides, the SAED or duty on export of diesel will be cut to Rs 5.50/litre, from Rs 6/litre currently.

The duty on jet fuel or ATF will be reduced to Rs 3.5/litre effective Saturday, from Rs 4/litre currently.

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SAED on petrol will continue at nil.

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

Tags :

diesel ATF Crude Oil windfall tax

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