NEW DELHI, OCT 16: The Central Government has increased the windfall tax on petrol exports while reducing the levy on diesel exports for the fortnight beginning October 16.
According to a notification issued by the Finance Ministry, the Special Additional Excise Duty (SAED), along with the road and infrastructure cess, on diesel exports has been reduced from ₹16 per litre to ₹8.50 per litre.
In contrast, the duty on petrol exports has been increased from ₹0.50 per litre to ₹2.50 per litre.
The export duty on aviation turbine fuel (ATF) has been retained at ₹10.50 per litre for the current fortnight.
The revised rates came into effect on October 16. However, the government has clarified that there is no change in the existing duty rates on petrol and diesel supplied for domestic consumption.
The government introduced export duties on diesel and ATF on March 27 amid escalating tensions in West Asia. The rates have since been reviewed and revised every fortnight. A levy on petrol exports was introduced from May 16.
The windfall tax mechanism aims to improve the domestic availability of petroleum products by discouraging excessive exports when international prices rise. It is also intended to prevent exporters from taking undue advantage of price differences between domestic and international markets.
The latest revision comes amid continued geopolitical tensions in West Asia, which have raised concerns over global energy markets and fuel supplies.
