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

The government hiked special additional excise duty (SAED) on crude petroleum to Rs 10,000 per tonne from today. In the last fortnightly review on September 1, windfall tax on domestically produced crude oil was set at Rs 6,700/tonne.

Besides, the SAED or duty on export of diesel will be cut to Rs 5.50/litre, from Rs 6/litre currently. The duty on jet fuel or ATF will be reduced to Rs 3.5/litre from Rs 4/litre currently. SAED on petrol will continue at nil. India first imposed windfall profit taxes on July 1, 2022. With inputs from PTI