The SAED or duty on export of diesel will be cut to ₹5 per litre, from ₹5.50 per litre currently. Image for representation purpose only. File
| Photo Credit: AP

The government on Friday hiked special additional excise duty (SAED) on crude petroleum to ₹12,100 per tonne with effect from September 30.

In the last fortnightly review on September 15, windfall tax on domestically produced crude oil was set at ₹10,000 per tonne.

Besides, the SAED or duty on export of diesel will be cut to ₹5 per litre, from ₹5.50 per litre currently.

The duty on jet fuel or Aviation Turbine Fuel (ATF) will be reduced to ₹2.5 per litre effective Saturday, from ₹3.5 per litre currently.

The SAED on petrol will continue at nil.

India first imposed windfall profit taxes on July 1, 2022. 

Image used for representative purpose only.
| Photo Credit: AP

The government on Friday hiked special additional excise duty (SAED) on crude petroleum to ₹10,000 per tonne with effect from September 16.

In the last fortnightly review on September 1, windfall tax on domestically produced crude oil was set at ₹6,700/tonne. Besides, the SAED or duty on export of diesel will be cut to ₹5.50/litre, from ₹6/litre currently.

The duty on jet fuel or ATF will be reduced to ₹3.5/litre effective Saturday, from ₹4/litre currently.

SAED on petrol will continue at nil. India first imposed windfall profit taxes on July 1, 2022.