Question

    The government has hiked the windfall tax on crude oil

    produced in the country and cut the levy to nil on exports of diesel and ATF.The tax, levied in the form of Special Additional Excise Duty (SAED), on domestically produced crude oil has been raised to ______ from Rs 1,300 per tonne. 
    A Rs.1800 Correct Answer Incorrect Answer
    B Rs.2300 Correct Answer Incorrect Answer
    C Rs.2700 Correct Answer Incorrect Answer
    D Rs.3100 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The government has hiked the windfall tax on crude oil produced in the country and cut the levy to nil on exports of diesel and ATF. The tax, levied in the form of Special Additional Excise Duty (SAED), on domestically produced crude oil has been raised to Rs 2,300 from Rs 1,300 per tonne. The SAED on the export of diesel has been reduced to nil from Rs 0.50 a litre. The levy on export of jet fuel or ATF has been cut to nil from Rs 1 per litre.SAED on petrol will continue to be zero.

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