Centre Raises Petrol Export Duty, Cuts Diesel Levy Sharply: Key Details

The export duty on ATF has been retained at Rs 10.5 per litre, applicable entirely as SAED. (Representational Image)

The Centre has revised export taxes on petrol, diesel and aviation turbine fuel (ATF), increasing the levy on petrol shipments while substantially lowering the duty on diesel exports for the next fortnight. The changes take effect from October 16 as the government continues to review petroleum product taxes in response to movements in global energy markets. Under the revised structure, the Special Additional Excise Duty (SAED) on petrol exports has been raised to Rs 2.5 per litre from Rs 0.50 per litre. In contrast, the levy on diesel exports has been reduced to Rs 8.5 per litre from Rs 16 per litre.

The export duty on aviation turbine fuel has been kept unchanged at Rs 10.5 per litre. The entire levy on ATF continues to be collected through SAED.

The Road and Infrastructure Cess (RIC) remains nil on exports of petrol, diesel and ATF. The latest changes follow the previous revision announced on October 1.

The revised rates represent a contrasting tax treatment for the two major transportation fuels. Exporters of petrol will now face a higher duty, while those shipping…

Original source: https://www.timesnownews.com/business-economy