Centre hik es windfall profit tax on export of diesel, ATF

The government has raised the windfall profit tax on export of diesel to ₹7 per litre from an earlier level of 5 rupees.

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They have also brought a new tax which will be placed at 2$ per gallon for jet fuel (ATF).

India has raised taxes on exported diesel and brought back a tax that was previously lifted in 2017.

The increase is due to recent falls of international oil prices, which have caused an issue for Indian refiners

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as they now must pay more than what their country produces them at home with little hope or chance at recovering these costs through pricing alone

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The government has cut taxes on oil and gas products, including jet fuel. The rate for domestically produced crude will be ₹13000 per tonne from an earlier price of 17750

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Oil firms have been subject to an unstable market, with international prices dropping lower than they did this time last year.

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To address these issues the government increased taxes on exports while decreasing them for domestic oil production

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a decision that seems sensible as both types of industry face challenges due their product's price fluctuations

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