New Delhi:Amid persistently high crude oil prices triggered by the continuing conflict in West Asia, the government on Friday introduced a windfall tax of Rs 3 per litre on petrol exports, while lowering export duties on diesel and aviation turbine fuel (ATF). The revised rates will come into effect from May 16. The Ministry of Finance issued a notification in this regard.
"In exercise of the powers conferred by Section 5A of the Central Excise Act, 1944 (1 of 1944) read with Section 147 of Finance Act, 2002 (20 of 2002), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 06/2026-Central Excise," the notification stated.
The government imposed a Rs 3 per litre special additional excise duty on the export of petrol. Meanwhile, special additional excise duty on diesel has been cut to Rs 16.5 per litre from Rs 23 per litre. The special additional excise duty on ATF exports has also been cut to Rs 16/ltr from Rs 33/ltr.
The government also said tit will not charge any road and infrastructure cess on exports of petrol and diesel.
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