The new rate comes into effect from August 1, according to a notification by the finance ministry.
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New Delhi: The Centre on Tuesday increased the windfall tax on domestic crude oil to Rs 4,250 per tonne from Rs 1,600 per tonne. The new rate comes into effect from August 1, according to a notification by the finance ministry.
The Special Additional Excise Duty (SAED) on diesel have been increased to Rs 1 per litre from nil. The windfall tax on petrol however will continue to be at ‘nil’, the notification said.
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Similarly, SAED on jet fuel or aviation turbine fuel (ATF) will also continue to be at ‘nil’. The government revises windfall tax on these commodities on a fortnightly basis.
