New Delhi: The government has cut the tax on diesel exports. Raised the tax on petrol exports for the period beginning on October 16 according to a Finance Ministry notification.
The total tax on diesel exports, which includes Special Additional Excise Duty and the road and infrastructure tax has been reduced to Rs 8.5, per litre from Rs 16 per litre. Petrol export duty has increased to Rs 2.5 per litre from Rs 0.5.
The duty on aviation turbine fuel (ATF) exports remains at Rs 10.5 per litre. The ministry said existing duty rates on petrol and diesel supplied for domestic consumption have not changed.
The government introduced export duties on diesel and ATF on March 27 amid escalating tensions in West Asia, with rates reviewed every fortnight. Petrol exports came under the levy from May 16.
The measures were introduced to protect domestic fuel availability by discouraging exports during the conflict. They also sought to prevent exporters from gaining disproportionately from differences between domestic and international prices as global crude oil prices rose.
