Windfall Tax: Government reduced the windfall tax on diesel and ATF, and also cut export tax on domestic crude oil

The government has reduced the windfall tax on diesel and ATF (Air Turbine Fuel). According to a government notification, the tax on the export of domestic crude oil has been reduced to Rs 1,700 per tonne from the existing Rs 4,900 per tonne. Tax on ATF has been reduced from Rs 5 per liter to Rs 1.5 per liter. This has been announced by the government by issuing a notification on 15th December. The new rates will be applicable from today i.e. 16th December.

The government has reduced the export tax on diesel from Rs 8 per liter to Rs 5 per liter. Apart from this, the export of Air Turbine Fluid ie ATF has been reduced to Rs 1.5 per liter, it was earlier Rs 5 per liter.

On the other hand, the oil companies have released the prices of petrol and diesel for today (16 December 2022). Today companies have changed the prices of oil in Delhi and Chennai. A few months back, the government announced a reduction in the prices of petrol and diesel. Oil prices in the country have remained stable for more than the last four months.

Today, one liter of petrol in Delhi is available at Rs 96.72 per liter while diesel is available at Rs 89.62 per liter. The petrol price in Mumbai is Rs 106.31 and the diesel price is Rs 94.27 per liter. The petrol price in Kolkata is Rs 106.03 while the diesel price is Rs 92.76 per liter. Whereas in Chennai also petrol is Rs 102.63 per liter and diesel is Rs 94.24 per liter.

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