Govt reviews windfall gains tax, cuts cess on crude oil

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Govt reviews windfall gains tax, cuts cess on crude oil

August 20, 2022
Updated: 12:18 am

Govt reviews windfall gains tax, cuts cess on crude oil

New Delhi, Aug 19 : Reviewing the windfall gains tax, the government slashed cess on crude oil late on Thursday, bringing it down from Rs 17,750 per tonne to Rs 13,000 per tonne. According to a Finance Ministry notification, export duty on aviation turbine fuel (ATF) has been hiked to Rs 2 per litre from zero. At the same time, a Rs 2 hike was effected on export duty on diesel to Rs 7 per litre from Rs 5 per litre. All these changes will come into effect from August 19. During the earlier review conducted a fortnight ago, export duties on jet fuel and petrol were scrapped by the government. /IANS

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