The government has raised windfall profit tax on locally produced crude oil by 23.52% to ₹2,100 per tonne from Tuesday and also increased the levy on exports of diesel and aviation turbine fuel (ATF) . Both changes were made against the backdrop of firmer international oil prices.
While tax on domestically-produced crude oil was raised from ₹1,700 per tonne to ₹2,100 a tonne. Tax on diesel exports increased from ₹5 per litre to ₹6.50 a litre , according to a government order issued late night on Monday. The tax on diesel is inclusive of ₹1.50 per litre additional excise duty.
According to the order issued by the ministry of finance, the levy on exports of ATF was also raised from ₹1.50 per litre to ₹4.50. The tax on crude and fuel are realigned with their respective international rates every fortnight.
