Govt hikes windfall tax on crude petroleum, cuts levy on diesel
The SAED on export of diesel, however, has been cut to nil from Rs 1.50 a litre, according to an official notification. On petrol and jet fuel or ATF, the levy has been retained at nil.
Govt hikes windfall tax on crude petroleum (File Image)
The government has hiked windfall tax on domestically produced crude oil to Rs 4,600 per tonne from Rs 3,300 per tonne with effect from Friday. The tax is levied in the form of Special Additional Excise Duty (SAED).
The SAED on export of diesel, however, has been cut to nil from Rs 1.50 a litre, according to an official notification. On petrol and jet fuel or ATF, the levy has been retained at nil.
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