The Central Government has revised the Special Additional Excise Duty on exports of petrol, diesel and Aviation Turbine Fuel (ATF) as part of its latest fortnightly review of fuel export taxes.
Under the revised rates, the export duty on diesel has been increased to 15.50 rupees per litre, while the duty on ATF exports has been raised to 14.50 rupees per litre. Meanwhile, the export duty on petrol has been reduced to 2.50 rupees per litre. The revised rates, notified by the Finance Ministry, came into effect from today. However, there is no change in the existing excise duty on petrol and diesel meant for domestic consumption.
The Special Additional Excise Duty on exports of petrol, diesel and ATF was introduced with effect from 27th March this year to ensure adequate domestic availability of petroleum products by discouraging exports amid the West Asia crisis.
The duty rates are reviewed every fortnight, with the previous revision coming into effect on the 1st of this month. The rates are determined based on the average international prices of crude oil, petrol, diesel and ATF prevailing during the period since the last review.
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