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India Raises Windfall Taxes on Diesel, Aviation Fuel Exports

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India has raised windfall taxes ​on diesel and aviation fuel exports effective June 16, to ensure domestic availability of petroleum products by disincentivising exports in the backdrop of the West Asia crisis, according to an official statement on Monday.

The rate of special additional excise duty (SAED) on export of diesel will be hiked to 14 per liter from 13.5 rupees per liter. SAED on export of aviation fuel will be 12.5 rupees per liter, up from 9.5 per liter, according to a Ministry of Finance notification.

There is no change in the rate of duty on exports of petrol, and it remains 1.5 rupees per liter, with the prices applicable for the ​next fortnight starting ​June 16.

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