India Hikes Windfall Tax on Diesel, ATF Exports; Cuts Levy on Petrol to Zero

Business Standard · business

The Indian government has increased the windfall gains tax on the export of diesel and aviation turbine fuel (ATF) for the fortnight beginning October 31. The duty on ATF exports has been raised to ₹11 per litre from ₹10.5 per litre. For diesel exports, the special additional excise duty, along with road and infrastructure cess, will now be ₹11.5 per litre, up from ₹8.5 per litre. Concurrently, the levy on petrol exports has been reduced to zero from ₹2.5 per litre.