Blitz Bureau
NEW DELHI: The Government has raised windfall gains tax on diesel and aviation turbine fuel (ATF) exports, while keeping the levy on petrol unchanged for the fortnight starting June 16.
According to a notification issued by the Finance Ministry, the special additional excise duty (SAED) on diesel exports has been increased to Rs 14 per litre from Rs 13.5 per litre.
In addition, the duty on ATF exports has been raised more sharply to Rs 12.5 per litre from Rs 9.5 per litre.
However, there is no change in the SAED on petrol exports, which will continue at Rs 1.5 per litre. The revised rates will come into effect from today.
Moreover, the Government has kept unchanged the existing duty rates on petrol and diesel meant for domestic consumption.
Earlier in May, the Centre had revised export levies on petrol, diesel and aviation turbine fuel (ATF) for the fortnight beginning June 1.
At that time, the duty was fixed at Rs 1.5 per litre on petrol, Rs 13.5 per litre on diesel and Rs 9.5 per litre on ATF exports.
In March, the export duty on diesel and ATF was imposed amid escalating tensions in West Asia following the US-Israel attack on Iran and subsequent retaliation.
The windfall tax was introduced to improve domestic availability of petroleum products and discourage exports at a time of elevated global crude prices driven by the West Asia conflict.
