Windfall Tax Hiked on Crude, Cut on Diesel - India News
The tax is levied in the form of Special Additional Excise Duty (SAED).
The SAED on export of diesel, however, has been cut to nil from Rs 1.50 a litre, according to an official notification.
On petrol and jet fuel or ATF, the levy has been retained at nil.
The new rates are effective from March 1.
India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.
The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.
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