NEW DELHI: The Centre on Wednesday scrapped export tax on petrol, cut the levy by a third on diesel and jet fuel, and brought down the windfall tax on domestic crude by 26% in step with recent moderation in benchmark prices. The special additional excise duty was slapped on July 1 to discourage overseas sales.
\nThe move is in step with recent moderation in benchmark prices.
\nThe special additional excise duty (SAED) on diesel and jet fuel exports, slapped on July 1 to discourage overseas sales amid domestic shortages, has been reduced from Rs 6 (7 US cents) per litre to Rs 4 (5 cents). It has been removed for petrol exports.
\nSAED on crude produced from domestic fields, imposed to tap part of the gains from soaring crude prices, has been cut to Rs 17,000 per tonne from Rs 23,250.The duty has also been waived for refined products produced and shipped from SEZs (special economic zones), according to a government notification.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: The Centre on Wednesday scrapped export tax on petrol, cut the levy by a third on diesel and jet fuel, and brought down the windfall tax on domestic crude by 26% in step with recent moderation in benchmark prices. The special additional excise duty was slapped on July 1 to discourage overseas sales. The move is in step with recent moderation in benchmark prices. The special additional excise duty (SAED) on diesel and jet fuel exports, slapped on July 1 to discourage overseas sales amid domestic shortages, has been reduced from Rs 6 (7 US cents) per litre […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-507516","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/507516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=507516"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/507516\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=507516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=507516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=507516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}