New Delhi: The Union government has announced a relaxation in the special levy imposed on exports of petrol, diesel and aviation turbine fuel (ATF).
The special profit tax was introduced to ensure adequate fuel availability in the domestic market amid the war involving the US-Israel and Iran. With global crude prices rising after the conflict began, the levy was aimed at preventing exporters from making windfall gains.
Under the latest revision, the additional excise duty on petrol exports has been cut from Rs 3 per litre to Rs 1.5 per litre.
The export duty on diesel has been reduced from Rs 16.50 per litre to Rs 13.50 per litre, while the levy on ATF exports has been lowered from Rs 16 per litre to Rs 9.50 per litre. The changes will take effect from June 1.
The government said there is no change in the existing tax rates on petrol and diesel sold for domestic consumption.
