India slashes windfall tax on petrol, diesel, ATF exports

The government on Wednesday slashed windfall tax on petroleum exports, reducing levies on petrol, diesel and aviation turbine fuel (ATF) as part of its fortnightly review of export duties.

As per the Finance Ministry, the rate of duty on petrol will be Rs. 0.5 per litre (SAED- Rs. 0.5 ; RIC- Nil), Rs. 20 per litre (SAED - Rs. 20; RIC – Nil) on exports of diesel and Rs. 15 per litre (SAED only) on exports of ATF.

However, there is no change in the existing excise duty rates on petrol and diesel cleared for domestic consumption.


The government reviews the windfall tax on domestically produced crude oil and export of petroleum products every fortnight, depending on global crude oil prices and refinery margins.