The windfall tax on domestic crude oil output has been raised by the Union government from Rs. 6,700 per tonne to Rs. 10,000 per tonne. The price hike will take effect on September 16.
The special additional excise tax (SAED) on aviation turbine fuel (ATF) has been reduced by the government from 4 to 3.50 rupees per liter.
The government already reduced the SAED on crude oil to Rs 6,700 per tonne from Rs 7,100 per tonne in the last fortnightly review on September 2.
Diesel SAED has been lowered from Rs. 6 per liter to Rs. 5.5 per litre. SAED on gasoline exports will remain at zero. The first windfall tax was imposed on Indian oil producers in July of last year.
