2 weeks ago
Government Cuts Export Duties on Petrol, Diesel and ATF
The government has reduced a special tax on some fuel exports.
The lower rates apply to petrol, diesel and aviation turbine fuel, also called ATF.
The changes begin on September 16.
Diesel exporters will pay Rs 20 per litre instead of Rs 25.
ATF exporters will pay Rs 15 per litre instead of Rs 19.
Petrol exporters will pay Rs 0.5 per litre instead of Rs 1.5.
The tax was created to help keep fuel available in India and discourage unusually large exports.
The tax rates on petrol and diesel sold for use inside India have not changed.
Export duty on diesel was cut to Rs 20 per litre from Rs 25.
The duty on aviation turbine fuel exports fell to Rs 15 per litre from Rs 19.
Petrol export duty was reduced to Rs 0.5 per litre from Rs 1.5.
The revised rates apply for the fortnight beginning September 16.
Domestic petrol and diesel duty rates remain unchanged, according to the Finance Ministry.
- Who
- The Government of India, through the Finance Ministry.
- What
- Reduced export duties on petrol, diesel and aviation turbine fuel.
- Where
- India; the duties apply to fuel exports.
- When
- Effective September 16, for the fortnight beginning that date.
- Why
- The windfall tax was intended to support domestic fuel availability and prevent exporters from benefiting excessively from international price differences amid West Asia tensions.
Key facts
- Diesel export duty
- Rs 20 per litre, down from Rs 25
- ATF export duty
- Rs 15 per litre, down from Rs 19
- Petrol export duty
- Rs 0.5 per litre, down from Rs 1.5
- Effective date
- September 16
- Review period
- The fortnight beginning September 16
- Domestic fuel duties
- No change in existing duties on petrol and diesel cleared for domestic consumption
- Tax purpose
- To increase domestic fuel availability and discourage excessive exports
Sources
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