NEW DELHI, SEPT 17: The Centre has reduced the windfall tax and export levies on petrol, diesel and aviation turbine fuel (ATF) following its fortnightly review of duties on petroleum products.
According to a Finance Ministry notification, the duty on petrol exports has been cut to ₹0.50 per litre, comprising Special Additional Excise Duty (SAED) of ₹0.50 per litre, while the Revenue Integration Charge (RIC) remains nil.
For diesel, the duty has been reduced to ₹20 per litre, entirely comprising SAED, with no RIC. The export levy on ATF has also been lowered to ₹15 per litre through SAED.
There has been no change in the existing excise duty rates on petrol and diesel meant for domestic consumption, the ministry said.
The government reviews the windfall tax on domestically produced crude oil and export duties on petroleum products every fortnight, taking into account global crude oil prices and refinery margins.
The latest revision comes after several changes in petroleum export duties in recent months amid fluctuations in international crude prices and geopolitical developments.
In the previous revision, effective September 1, the government had reduced the export levy on diesel to ₹1 per litre from ₹3 per litre and lowered the windfall tax on diesel exports to ₹19 per litre from ₹24 per litre.
In August, the government had raised the petrol export duty to ₹3.5 per litre from ₹2.5 per litre.
The total duty on diesel was increased to ₹25.5 per litre from ₹15.5 per litre, while the ATF export levy was raised to ₹22 per litre from ₹14.5 per litre.
