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NEW DELHI: The government on Tuesday reduced special additional excise duty (SAED) on crude oil to Rs 9,050/ton with effect from October 18.
In the last biweekly review on September 29 windfall tax on domestically produced crude oil was fixed at Rs 12,100/ton.
By the way, the SAED of duty on export of diesel will be reduced to Rs 4/litre from Rs 5 per liter at present.
The excise duty on aviation fuel or ATF will be reduced to Rs 1/litre from Rs 2.5/litre currently.
SAED on gasoline remains at zero.
India imposed windfall profit taxes for the first time on July 1, 2022.
In the last biweekly review on September 29 windfall tax on domestically produced crude oil was fixed at Rs 12,100/ton.
By the way, the SAED of duty on export of diesel will be reduced to Rs 4/litre from Rs 5 per liter at present.
The excise duty on aviation fuel or ATF will be reduced to Rs 1/litre from Rs 2.5/litre currently.
SAED on gasoline remains at zero.
India imposed windfall profit taxes for the first time on July 1, 2022.
