2 weeks ago
Centre Cuts Windfall Tax on Fuel Exports From September 16
The government has lowered a special tax on some fuel exports.
This tax is called a windfall tax.
For petrol exports, the tax will now be ₹0.50 per litre.
Before this change, it was ₹1.50 per litre.
The new rate begins on September 16.
It will remain in effect for two weeks.
The announcement also mentions diesel and aviation turbine fuel exports.
However, the exact new rates for those fuels were not provided.
The Centre reduced the windfall tax on petrol exports to ₹0.50 per litre.
The previous petrol-export windfall tax was ₹1.50 per litre.
The revised rate takes effect on September 16.
The new rates will apply for the following fortnight.
The announcement covers petrol, diesel and aviation turbine fuel (ATF) exports, although only the petrol rate is specified.
- Who
- The Centre, referring to the central government.
- What
- It reduced the windfall tax on petrol exports and announced new rates for petrol, diesel and ATF exports.
- Where
- When
- The revised rates take effect on September 16 and apply for the next fortnight.
- Why
Key facts
- Petrol export tax
- ₹0.50 per litre
- Previous petrol tax
- ₹1.50 per litre
- Effective date
- September 16
- Duration
- The next fortnight
- Exports covered
- Petrol, diesel and aviation turbine fuel (ATF)
- Specified rate changes
- Only the petrol-export rate is specified in the report
Sources
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