Explained: Why has the Govt imposed a special cess on exports of automobile fuels? | Explained News,The Indian Express
The Govt says the domestic retail prices of diesel and petrol would remain unchanged. At the same time these measures will ensure domestic availability of the petroleum products.
In a series of measures to regulate the import and export of items such as crude oil and gold, the government has imposed special additional excise duty/ cesses on exports of petrol and diesel of Rs 6 per litre and Rs 13 per litre respectively.
The import duty on gold has been hiked to 15 per cent from 10.75 per cent to curb imports of gold amid concerns over increasing pressure on the current account deficit.
A cess of Rs 23,250 per tonne (by way of special additional excise duty or SAED) or windfall tax, has been imposed on crude. A SAED of Rs 6 per litre has also been imposed on exports of aviation turbine fuel (ATF) or jet fuel.
What are the petroleum duty changes?
In a bid to regulate domestic crude oil producers from importing crude and then selling it at international parity prices, a windfall tax has been imposed.
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