Centre hikes windfall tax on domestic crude, cuts levy on export of diesel, ATF
The Hindu
Govt hikes SAED on crude oil to ₹12,100/tonne; cuts duty on diesel, ATF.
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.
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