Govt Hikes Windfall Tax On Diesel, ATF Shipments From Oct 31

The government on Saturday hiked windfall gains tax on export of diesel and ATF and slashed the levy to zero on petrol for the fortnight beginning October 31. 

For ATF exports, the duty has been hiked marginally to Rs 11/litre, from Rs 10.5/litre for the fortnight. 

The rate of special additional excise duty (SAED), along with road and infrastructure cess on export of diesel, will now be Rs 11.5 a litre, up from Rs 8.5 a litre.

Duty on petrol exports has



been slashed to nil, from Rs 2.5 per litre, for the next fortnight. The finance ministry in a notification said the duty changes will be effective from October 31. 

Amid escalating tensions in West Asia, the government imposed an export duty on diesel and ATF on March 27 and revised the rate every fortnight. Beginning May 16, the levy was imposed on petrol exports. 

The ministry also said there is no change in the existing duty rates on petrol and diesel cleared for domestic consumption.