News Oil & Gas

Centre hikes windfall tax to Rs 10,000 per tonne, slashes duty on diesel, ATF

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New Delhi: The centre on Friday revised windfall tax on domestically produced crude oil to Rs 10,000 per tonne from Rs 6,700 per tonne earlier.

The export duty on diesel was slashed to Rs 5.50 per litre from 6 per litre earlier and reduced duty on Aviation Turbine Fuel (ATF) to Rs 3.50 per litre from the earlier Rs 4 litre. The new rates will be effective from September 16.

Export duty on Petrol will remain nil.

In its last revision on September 2, the centre had reduced windfall tax on domestically produced crude petroleum marginally to Rs 6,700 per tonne from Rs 7,100 per tonne.
on July 1, 2022 the government imposed an export duty of Rs 6 per litre on petrol and ATF and a Rs 13 per litre duty on export of diesel.A windfall tax of Rs 23,250 per tonne was imposed on the sale of domestic crude.Since then, the centre has been reviewing the levies every fortnight or so based on global crude oil prices.

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