Govt cuts windfall tax on domestic crude, export of diesel, ATF

[ad_1] NEW DELHI: The government on Tuesday cut special additional excise duty (SAED) on crude petroleum to Rs 9,050/tonne with effect from October 18.In the last fortnightly review on September 29, windfall tax on domestically produced crude oil was set at Rs 12,100/tonne.Besides, the SAED or duty on export of diesel will be reduced to Rs 4/litre, from Rs 5 per litre currently.The duty on jet fuel or ATF will be reduced to Rs 1/litre from Rs 2.5/litre currently.SAED on petrol will continue at nil.India first imposed windfall profit taxes on July 1, 2022. !(function(f, b, e, v, n, t, s) { function loadFBEvents(isFBCampaignActive) { if (!isFBCampaignActive) { return; } (function(f, b, e, v, n, t, s) { if (f.fbq) return; n = f.fbq = function() { n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments); }; if (!f._fbq) f._fbq = n; n.push = n; n.loaded = !0; n.version = '2.0'; n.queue = []; t = b.createElement(e); t.async = !0; t.defer = !0; t.src = v; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); })(f, b, e, 'https://connect.facebook.net/en_US/fbevents.js', n, t, s); fbq('init', '593671331875494'); fbq('track', 'PageView'); }; function loadGtagEvents(isGoogleCampaignActive) { if (!isGoogleCampaignActive) { return; } var id = document.getElementById('toi-plus-google-campaign'); if (id) { return; } (function(f, b, e, v, n, t, s) { t = b.createElement(e); t.async = !0; t.defer = !0; t.src = v; t.id = 'toi-plus-google-campaign'; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); })(f, b, e, 'https://www.googletagmanager.com/gtag/js?id=AW-877820074', n, t, s); }; function loadSurvicateJs(isSurvicateActive){ if(!isSurvicateActive){ return; } (function(w) { var s = document.createElement('script'); s.src="https://survey.survicate.com/workspaces/0be6ae9845d14a7c8ff08a7a00bd9b21/web_surveys.js"; s.async = true; var e = document.getElementsByTagName('script')[0]; e.parentNode.insertBefore(s, e); })(window); } window.TimesApps = window.TimesApps || {}; var TimesApps = window.TimesApps; TimesApps.toiPlusEvents = function(config) { var isConfigAvailable = "toiplus_site_settings" in f && "isFBCampaignActive" in f.toiplus_site_settings && "isGoogleCampaignActive" in f.toiplus_site_settings; var isPrimeUser = window.isPrime; if (isConfigAvailable && !isPrimeUser) { loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive); loadFBEvents(f.toiplus_site_settings.isFBCampaignActive); loadSurvicateJs(f.toiplus_site_settings.isSurvicateActive); } else { var JarvisUrl="https://jarvis.indiatimes.com/v1/feeds/toi_plus/site_settings/643526e21443833f0c454615?db_env=published"; window.getFromClient(JarvisUrl, function(config){ if (config) { loadGtagEvents(config?.isGoogleCampaignActive); loadFBEvents(config?.isFBCampaignActive); loadSurvicateJs(config?.isSurvicateActive); } }) } }; })( window, document, 'script', ); #Govt #cuts #windfall #tax #domestic #crude #export #diesel #ATF