- A November 1 government notice reduced windfall tax or special extra excise duty (SAED) on crude petroleum exports to Rs 9,500 per tonne from Rs 11,000.
- ATF’s SAED has been raised from Rs 3.50 to Rs 5 per litre, and diesel’s from Rs 12 to Rs 13. Diesel export duty includes Rs 1.50 per litre RIC.
- On July 1, the government established windfall tax to punish the business for its huge profits from selling refined crude abroad. Its quantum is reviewed fortnightly.
Windfall tax on crude petroleum cut to Rs 9,500 per tonne, ATF, diesel exports raised.
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