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Windfall tax rates revised by CBIC

July 20, 2022

The Special Additional Excise Duty (SAED) imposed by the Government of India on domestically produced petroleum products has been revised, following the earlier revision on July 20:

  • SAED on domestically produced crude increased to INR 17,750 per tonne from INR 17,000 per tonne
  • SAED on export of diesel reduced to INR 5 per litre from INR 11 per litre
  • SAED on export of aviation turbine fuel is now exempt

The relevant notifications No. 21 & 22 /2022, which shall be effective August 03, 2022, can be accessed here.

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