Amid the fall in crude oil prices in the international market, the government has reduced the windfall tax (duty) on crude oil exports from Rs 13,300 to Rs 10,500 per tonne. Apart from this, the export duty applicable on diesel has been reduced to Rs 5 per liter. Let us inform you that earlier it was increased from Rs 7 per liter to Rs 13.50 per liter. On September 1, the export duty on ATF i.e. airplane fuel was increased from Rs 7 per liter to Rs 9 per liter. It has been retained for the time being. The new rates issued by the government have come into effect from midnight on 17 September.
Windfall tax was imposed from July 1
It is worth noting that the government reviews the windfall tax every 15 days. On July 1, the government decided to levy a windfall tax (duty) of Rs 6 per liter on petrol and ATF while Rs 13 per liter on diesel. At that time, it was said by the government that it would be reviewed every fortnight.
Export duty on petrol was abolished on July 20
On July 20, the government abolished the export duty of Rs 6 per liter imposed on the export of petrol. On the other hand, the export duty on diesel and ATF was reduced by Rs 2 each to Rs 11 and Rs 4 per liter respectively. During this period, the tax on domestically produced crude oil was also reduced from Rs 23,250 per tonne to Rs 17,000 per tonne.
Duty on diesel export was reduced by Rs 5 per liter on August 2
On August 2, the central government reduced the windfall tax on diesel exports from Rs 11 to Rs 5 per liter. On the other hand, it was decided to eliminate it on ATF. Similarly, it was decided to keep the duty on the export of petrol at zero. Windfall tax on crude oil produced in the country was increased from Rs 17,000 per tonne to Rs 17,750 per tonne on the same day.
The name of Hindi cinema's powerful actor Ranbir Kapoor is in the news these days for his upcomin
Every day new things are coming to the fore in the dispute between PCS officer Jyoti Maurya and h
External Affairs Minister: Foreign Minister Jaishankar met Rami Ranger, talks about trade agreement
External Affairs Minister S Jaishankar met Lord Rami Ranger, Member of the House of Lords of the
IND vs SA 2nd Test Pitch Report: The Indian team once again missed winning the Test series for th
The journey of the Indian team so far in the World Cup 2023 has been excellent. The Rohit Sharma-
The Central Reserve Police Force (CRPF) has submitted its reply to the Ministry of Home Affairs i
US Secretary of State Antony Blinken's three-day visit to India begins tomorrow (March 1). He wil
Sarfaraz Khan's dominance in his debut Test against England's spinners was no coincidence. This w
Taiwan-China: China made a major intrusion in Taiwan, 19 Chinese fighter jets flew in the airspace
China is continuously violating Taiwan's airspace. Taiwan says that 19 Chinese military aircraft
After the horrific train accident in Odisha, the National Disaster Response Force (NDRF) worked t