India raises windfall tax on diesel and ATF exports; petrol export duty stays unchanged

The Centre has increased the windfall gains tax on exports of diesel and aviation turbine fuel (ATF) for the fortnight beginning June 16, while keeping the existing levy on petrol exports unchanged, according to a Finance Ministry notification.Under the revised structure, the special additional excise duty (SAED) on diesel exports has been raised from ₹13.5 per litre to ₹14 per litre. The duty on ATF exports has also been increased significantly, from ₹9.5 per litre to ₹12.5 per litre. However, the tax on petrol exports remains unchanged at ₹1.5 per litre. The revised rates came into effect from June 16.Crude Oil Prices Remain Stable At $82 Per Barrel As Strait Of Hormuz Reopens The government clarified that there has been no change in duties applicable to petrol and diesel used for domestic consumption.Export duties on petroleum products were first introduced on March 26 amid rising geopolitical tensions in West Asia, triggered by military conflict involving Iran, Israel, and the United States. Since then, the levy structure has been reviewed on a fortnightly basis in response to shifting global oil market conditions.In May, the government extended the windfall tax regime to include petrol exports as well, widening the scope of the levy. The objective of these export duties is to ensure adequate domestic fuel availability and to prevent exporters from benefiting excessively from elevated global prices caused by geopolitical disruptions.Meanwhile, global crude oil prices showed a slight rebound on Tuesday after falling in the previous session. The earlier decline followed reports of a US–Iran agreement aimed at easing tensions through a proposed peace deal.Centre Waives Excise Duty On E22-E30 Petrol, Pushes Higher Ethanol Blending To Reduce Oil Imports Brent crude rose 0.3% to $83.42 per barrel, while West Texas Intermediate (WTI) also gained 0.3% to $81.12 per barrel. Prices had earlier dipped to around $83 after US President Donald Trump indicated that a memorandum of understanding on peace with Iran would be signed soon.Although global equity markets rallied on the announcement, oil prices remain sensitive to uncertainty around the implementation of the deal and the speed of normalization of energy flows through key routes like the Strait of Hormuz.

<p>The Indian government has raised the windfall tax on diesel and aviation turbine fuel (ATF) exports, effective today, with th</p>

<p>The Indian government has raised the windfall tax on diesel and aviation turbine fuel (ATF) exports, effective today, with th</p>

The government on Monday hiked windfall gains tax on exports of diesel and aviation turbine fuel (ATF), while retaining the levy on petrol for the fortnight beginning June 16.

The move comes amid ongoing West Asia tensions and aims to ensure domestic fuel availability while discouraging excess exports.

Revised export levies take effect from June 16 as New Delhi reviews duties amid elevated global crude prices and ongoing West Asia tensions.