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Government cuts windfall tax on crude, hikes duty on Jet Fuel and diesel

However, Export duty on ATF and diesel has been hiked Rs 2 on each. Earlier there was no export duty on ATF. Now it will be charged Rs 2 per litre according to new directions.

SNS | New Delhi |

The Central government revised the windfall tax levied on crude oil, aviation turbine fuel (ATF) and diesel on Thursday. Finance Ministry in its notification directed that the cess on crude oil will be Rs 13,000 per tonne bringing it down from Rs 17,750 per tonne.

However, Export duty on ATF and diesel has been hiked Rs 2 on each. Earlier there was no export duty on ATF. Now it will be charged Rs 2 per litre according to new directions. At the same time, export duty on diesel was hiked from Rs 5 per litre to Rs 7 per litre. All these changes will come into effect from August 19.

Petrol and Diesel prices on Friday have remained unchanged 90th consecutive day. During the earlier review conducted a fortnight ago, export duties on jet fuel and petrol were scrapped by the government.

(With Inputs from IANS).