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India Cuts Fuel Export Duties
15 Aug
Summary
- Diesel export tax reduced to Rs 24 per litre.
- ATF duty decreased by Rs 2.5 to Rs 19.5 per litre.
- Petrol export duty is now nil, previously Rs 3.5.
The Indian government has adjusted its windfall tax on fuel exports, implementing a reduction for diesel and aviation turbine fuel (ATF). The export tax on diesel is now Rs 24 per litre, down from Rs 25.5 per litre. For ATF, the duty has been decreased by Rs 2.5 per litre, bringing it to Rs 19.5 per litre.
Furthermore, the export duty on petrol has been entirely removed, previously set at Rs 3.5 per litre. These revised rates apply to exports, while the excise duty rates for domestic consumption of petrol and diesel remain unchanged.
The government initially introduced these export duties on March 27 to ensure sufficient domestic availability of petroleum products amidst global energy price surges and regional conflicts. These rates are subject to review every fortnight based on international crude oil and petroleum product prices. Petrol exports were included in this windfall tax framework starting May 16.
