Key Points
However, it reduced, the export duty on diesel was slashed to Rs.0.5 per litre and scrapped export duty for Aviation Turbine Fuel (ATF)...
Exports of petrol will continue to attract nil duly..
India imposed windfall profit taxes on July 1, 2022, by imposing export duties of 6 per litre on petrol and ATF and 13 a litre on diesel...
The centre on Monday told parliament that is has estimated to collect Rs 25,000 crore from Special Additional Excise Duty (SAED) for the current fiscal year levied on the windfall tax on domestic production of crude oil and export of Petrol, Diesel and Aviation Turbine Fuel (ATF)...
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India slashes windfall tax on crude oil production to Rs 3,500 per tonne
21, Mar, 23It also marginally increased export duty on diesel to Rs one per litre from Rs 0.50 while keeping both petrol and Aviation Turbine Fuel (ATF) exempted from the export levy. The new rate will be effective from March 21.
India cuts windfall tax on diesel, crude oil
16, Nov, 23India has cut the windfall tax on diesel and crude oil on Thursday, according to a government notification.
India raises windfall tax on crude by Rs 1,000; removes taxes on diesel, ATF
02, Jan, 24Petrol, Diesel Rates: India has significantly increased the windfall profit tax on crude oil from Rs 1,300 to Rs 2,300 per tonne. Simultaneously, New Delhi abolished the tax on diesel and aviation turbine fuel (ATF), maintaining the absence of windfall taxes on petrol. Previously, windfall taxes of 50 paise per litre and one rupee per litre applied to diesel and ATF, respectively, which have now been eliminated. These revised rates came into effect on January 2, 2024.
India cuts windfall tax on petroleum crude to zero
15, May, 23In early may, the govt had slashed windfall tax on domestically produced crude oil to ₹4,100 per tonne from ₹6,400 per tonne.
Windfall tax on crude oil slashed to Rs 3,500/tonne, duty on diesel hiked
21, Mar, 23Petrol and Aviation Turbine Fuel ATF have been exempted from the export levy
Windfall tax on diesel exports hiked, levy on crude oil slashed
22, Mar, 23The government has hiked the windfall profit tax on export of diesel to Re 1 per litre while the levy on domestically produced crude oil has been cut by a fifth, according to an official order.