Government hike tax on diesel, jet fuel exports and domestic crude oil production

Government hiked the windfall profit tax on Domestically produced crude oil and exports of diesel and Aviation Turbine Fuel (ATF). Revised rates are effective from 1 Sept 2022.

The windfall profit tax on the export of diesel was hiked to Rs 13.5 per litre from Rs 7 per litre earlier, and on Aviation Turbine Fuel (ATF) exports to Rs 9 from Rs 2 per litre. The tax on domestically-produced crude oil too has been hiked to Rs 13,300 per tonne from Rs 13,000 earlier.

Source: Financial Express

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