Government hikes windfall tax on diesel, ATF; cuts levy on petrol exports
The government raised the Special Additional Excise Duty (SAED) on diesel exports to ₹15.5 per litre from ₹8.5, and on aviation turbine fuel (ATF) to ₹14.5 from ₹7.5, effective until July 15. This adjustment comes alongside a reduction in the levy on petrol exports, reflecting the government's response to fluctuating global oil prices. The changes aim to balance revenue generation while managing domestic fuel prices.