Finance Ministry reduces export windfall levies on diesel and jet fuel

Key facts

• The Finance Ministry cut the windfall tax (export levy of Special Additional Excise Duty/Road and Infrastructure Cess) on diesel to ₹16 per litre from ₹20 per litre, and on Aviation Turbine Fuel (ATF) to ₹10.5 per litre from ₹15 per litre, effective Thursday.
• The levy on petrol remains unchanged at ₹0.50 per litre, and there is no change in excise duty rates on petrol and diesel cleared for domestic consumption.
• These export levies were introduced with effect from March 27 to ensure domestic availability of petroleum products by disincentivising exports amid the West Asia crises.
• The rates are revised fortnightly, with the previous revision effective September 16, and are prescribed based on average international prices of crude oil, petrol, diesel and ATF since the last review.