The windfall tax on export of diesel has been increased from Rs 7 to Rs 13.5 per liter, while on export of ATF (Aviation Turbine Fuel) it has been increased by Rs 2 to Rs 9 per litre.
Windfall tax hiked on export of diesel and ATF
The government has increased windfall profit tax on the export of diesel to Rs 13.5 per liter, while it has been increased to Rs 9 per liter on export of ATF (Aviation Turbine Fuel) used in the operation of aircraft. Along with this, duty has also been increased on domestically produced crude oil. The Ministry of Finance gave this information by issuing a notification in this regard on Wednesday.
How much tax increase
According to the notification, in the fourth fortnight review, the government has increased the windfall tax on export of diesel from Rs 7 to Rs 13.5 per liter, while on export of ATF (Aviation Turbine Fuel) it has been increased by Rs 2 to Rs 9 per litre. . The government has also increased the duty on domestically produced crude oil by Rs 13000 per tonne by Rs 300 to Rs 13,300. India had imposed windfall profit tax for the first time on July 1. With this, it became one of the countries that levy additional taxes on the hefty profits of energy companies.
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