India cuts gasoline export windfall tax, raises diesel and ATF
Business
India just tweaked its windfall taxes on fuel exports, starting July 16.
Gasoline exporters catch a break with taxes dropping from ₹4 to ₹2.5 per liter, but diesel exporters will pay more: ₹15.5 per liter instead of ₹8.5.
Jet fuel (ATF) tax nearly doubles too, jumping from ₹7.5 to ₹14.5 per liter.
Windfall taxes updated every 2 weeks
The government updates these taxes every two weeks to keep up with global oil price swings and make sure companies aren't scoring huge profits when prices spike worldwide.
These measures are part of the government's fortnightly windfall-tax reviews, aiming to balance what exporters earn with keeping local fuel prices steady for everyone back home.