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.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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