Govt Reduces Windfall Tax on Petrol, Diesel and ATF Exports

New Delhi: The Centre has reduced the windfall tax on petroleum product exports, cutting the levy on petrol exports by 50 per cent to ₹1.5 per litre with effect from June 1. The government has also lowered the tax on diesel exports to ₹13.5 per litre and on aviation turbine fuel (ATF) exports to ₹9.5 per litre.

In a notification, the Finance Ministry said the road and infrastructure cess on exports of petrol and diesel will remain nil. It also clarified that there has been no change in the existing duty structure for petrol and diesel supplied for domestic consumption.

The Special Additional Excise Duty (SAED) on petrol exports, which was raised to ₹3 per litre on May 16, has now been reduced to ₹1.5 per litre. The windfall tax was introduced to discourage exports and ensure adequate domestic availability of petroleum products amid supply concerns arising from the ongoing crisis in West Asia. DeshGujarat