Govt cuts windfall tax on domestic crude, hikes levy on export of diesel, ATF 
News Updates

Govt cuts windfall tax on domestic crude, hikes levy on export of diesel, ATF

The Government on Friday cut special additional excise duty (SAED) on crude petroleum to Rs 6,700 per tonne with effect from September 2

PTI

New Delhi: The Government on Friday cut special additional excise duty (SAED) on crude petroleum to Rs 6,700 per tonne with effect from September 2.

In the last fortnightly review on August 14, windfall tax on domestically Besides, SAED or duty on export of diesel will increase to Rs 6 per litre from Rs 5.50 per litre, currently. The duty on jet fuel or ATF will be doubled to Rs 4 per litre effective Saturday, from Rs 2 per litre currently, according to a finance ministry notification.produced crude oil was set at Rs 7,100 per tonne.

Besides, SAED or duty on export of diesel will increase to Rs 6 per litre from Rs 5.50 per litre, currently. The duty on jet fuel or ATF will be doubled to Rs 4 per litre effective Saturday, from Rs 2 per litre currently, according to a finance ministry notification.

It said SAED on petrol will continue at nil. India first imposed windfall profit taxes on July 1, 2022.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

PESB name Sandeep Sudhakar Paranjape for WCL's Director (Technical) post

Texmaco, RVNL form JV to boost rail modernisation, exports

UP Govt engages Indian embassies to attract global investors for Trade Show 2025

Power Grid holds 36th AGM; showcases operational strength and future growth prospects

REC committed to building a green, inclusive and resilient energy ecosystem: CMD at 56th AGM