Windfall tax rates further revised by Government of India

Windfall tax rates further revised by Government of India

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The Special Additional Excise Duty (SAED) imposed on domestically produced petroleum products have been revised, following the earlier revision on July 20 and August 03, 2022.

  • SAED on domestically produced crude decreased to INR 13,330 per tonne
  • SAED on export of diesel increased to INR 6 per litre from INR 15 per litre
  • SAED on export of aviation turbine fuel of INR 2 per litre (exempted as per last revision)

The relevant notifications No. 23 & 24 /2022, which shall be effective August 19, 2022, can be accessed here.