The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at ‘nil’.
Read More: SpiceJet Q4 Results: Net Profit Surges Six-Fold to Rs 119 Crore, FY24 Loss Narrows By 73%
The government on Monday hiked windfall tax on domestically produced crude oil to Rs 7,000 per tonne, from Rs 6,000 per tonne.
The tax is levied in the form of Special Additional Excise Duty (SAED).
Read More: Gold Rates Today: Check Top City Wise Gold Prices In India On 16th July, 2024
The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at ‘nil’.
The new rates are effective from July 16, an official notification said.
Read More: Business Idea: Invest Rs 1.8 Lakh And Earn Rs 8.02 Lakh Per Year In This Business Venture
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.
