Govt hikes windfall tax on crude to Rs 10,000 per tonne, slashes duty on diesel, ATF, ET EnergyWorld


New Delhi: The central government has increased the windfall tax on petroleum crude to Rs 10,000 per tonne from Rs 6,700 per tonne, according to a government notification on Friday.

The increase will come into effect from September 16. The special additional excise duty (SAED) on aviation turbine fuel (ATF) has been reduced to ₹3.50/litre from ₹4, with effect from September 16.

Earlier, in the previous fortnightly review on September 2, the government had cut the SAED on crude petroleum to Rs 6,700 per tonne from Rs 7,100 per tonne.

As per the notification, the SAED on diesel has been cut from 6/liter to Rs. 5.50/litre. The SAED on export of petrol will continue to be zero.

Windfall tax was first levied in July last year on oil producers in India. The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.

  • Published On Sep 15, 2023 at 11:29 PM IST

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