By Admin 
Tax on Diesel and ATF: The central government has taken a big decision amid the Iran War and Hormuz crisis. The government has today increased the windfall tax on the export of diesel and aviation turbine fuel (ATF). The Ministry of Finance has given this information. The government has taken this decision so that domestic supply can be managed and windfall profits of refiners can be curbed.
The people of the country will benefit from this decision of the government, because the domestic supply will increase further. Besides, the possibility of increase in diesel prices will also reduce.
Through a notification issued today, the Union Finance Ministry has increased the excise duty on diesel to ₹55.5 per liter from the earlier ₹21.5 per litre, which is more than double the previous amount. Apart from this, the export duty on ATF has been increased from ₹29.5 per liter to ₹42 per liter, while the export duty on petrol still remains zero.
The government had abolished this tax in 2024
Amidst the ongoing crisis in West Asia, the government has re-imposed the windfall tax i.e. ‘Special Additional Excise Duty’ on the export of fuel. This tax was abolished in December 2024. But now due to huge profits being made by the refineries and concerns arising over the availability of fuel within the country, the government has implemented it again.
The government had reduced excise duty last month
Let us tell you that last month the Central Government had also reduced the excise duty on petrol. On March 26, the Finance Ministry reduced the excise duty on petrol from ₹13 per liter to ₹3 per litre, while the duty on diesel was reduced from ₹10 per liter to zero.
This was done so that oil marketing companies could be protected from the impact of rising crude oil prices worldwide due to the Iran war. After the Iran-America War, worldwide crude oil prices had reached $119 per barrel, but now they have come down to around $98 per barrel.
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