The government of India has today increased the export duty on petrol, diesel, and ATF. Know Details
In order to regulate prices and maintain the stock of petroleum products in the domestic market, the government of India has today increased the export duty on petrol, diesel, and ATF.
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Export duty on petrol has been raised by Rs 5 per litre and Rs 12 per litre on diesel. Export duty on ATF has been upped by Rs 6 per lire. It must be noted that an increase in export duty on the various fuels will not increase domestic fuel prices. The government has also directed exported to sell 50 per cent of their petrol in domestic markets and 30 per cent of diesel as well. The move will also help the government’s kitty as it looks to benefit from the rising crude oil prices.
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“However, Nepal and Bhutan have been exempted from paying additional duty on these petroleum products. Also, this condition is not applicable to 100% EoUs and SEZ unites,” said Ministry of Commerce and Industry.
