In a sign that windfall taxes on the oil-sector companies are here to stay, the Centre on Thursday raised the export tax \u2014 special additional excise \u2014 on exports of diesel and aviation turbine fuel (ATF) to levels even higher than when these imposts were introduced three months ago, and raised the additional excise duty on heavily-taxed domestic crude marginally.<\/p>\n
Effective September 1, export of diesel will attract a tax of Rs 13.5\/litre, up from Rs 7 previously, while shipments of ATF will be subject to an impost of Rs 9\/litre, up from Rs 2. In the fourth fortnightly review of the taxes, the government also raised the tax on domestically-produced crude oil to Rs 13,300\/tonne from Rs 13,000, in tandem with crude price increases which will benefit domestic producers, thanks to the \u201ctrade parity pricing\u201d they follow.<\/p>\n
Though the government has cited a rise in refinery margins for these products for the decision, analysts pointed out that exports of both these fuels have slowed in recent weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a sign that windfall taxes on the oil-sector companies are here to stay, the Centre on Thursday raised the export tax \u2014 special additional excise \u2014 on exports of diesel and aviation turbine fuel (ATF) to levels even higher than when these imposts were introduced three months ago, and raised the additional excise duty on heavily-taxed domestic crude marginally. Effective September 1, export of diesel will attract a tax of Rs 13.5\/litre, up from Rs 7 previously, while shipments of ATF will be subject to an impost of Rs 9\/litre, up from Rs 2. In the fourth fortnightly review […]<\/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":[130,195,138],"tags":[],"class_list":["post-518826","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/518826","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=518826"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/518826\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=518826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=518826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=518826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}