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Government hikes windfall tax on diesel and ATF exports
NDTV Profit··16 Jun
NDTV Profit reported that the government increased windfall tax on diesel and aviation turbine fuel exports while leaving petrol export duty unchanged. Fallback reports said diesel duty rises to Rs 14 per litre and ATF to Rs 12.5 per litre from June 16.
Prism
What It Means For You
- Retail petrol and diesel duties for domestic consumption are unchanged.
- The tax can discourage fuel exports and support domestic availability.
- Refiners with export exposure may see margins affected.
What's Happening
- Diesel export duty was raised to Rs 14 per litre.
- ATF export duty was raised to Rs 12.5 per litre.
- Petrol export duty stays at Rs 1.5 per litre.
Policy Mechanism
- India reviews windfall export levies every fortnight.
- The West Asia crisis led to higher volatility in global fuel markets.
- The policy seeks to prevent exporters from benefiting from global price spikes at the expense of domestic supply.
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