New Delhi, 31 October (H.S.): The Centre has increased the windfall gains tax on exports of diesel and aviation turbine fuel (ATF), while reducing the levy on petrol exports to zero. The revised rates will remain in force for the 15-day fortnight beginning October 31.

According to a notification issued by the Ministry of Finance on Saturday, the changes came into effect on October 31. Under the revised rates, the windfall tax on ATF exports has been raised from Rs. 10.5 per litre to Rs. 11 per litre for the current fortnight.

Similarly, the rate of the Road and Infrastructure Cess, along with the Special Additional Excise Duty, on diesel exports has been increased from Rs. 8.5 per litre to Rs. 11.5 per litre.

The ministry said the levy on petrol exports has been reduced from Rs. 2.5 per litre to zero for the next fortnight. It also clarified that there has been no change in the existing duty rates on petrol and diesel sold for domestic consumption.

The windfall tax was introduced to ensure adequate domestic availability of fuel amid the ongoing crisis in West Asia.

It may be recalled that the Centre imposed export duties on diesel and ATF on March 27 amid escalating tensions in West Asia. The rates are reviewed and revised every fortnight. Subsequently, a tax on petrol exports was introduced with effect from May 16.

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Hindusthan Samachar / Jun Sarkar