India revises windfall tax on fuel exports from July 1
India just updated its windfall tax rules for fuel exports, kicking in from July 1.
Diesel and aviation turbine fuel (ATF) now have lower export duties, while gasoline gets a higher tax.
The move is all about keeping enough fuel at home while still making the most of global markets as oil prices slide.
Plus, the exemption, which previously applied only to neighboring countries, has now been extended to Mauritius and Maldives.
Diesel ₹14-₹8.5 ATF ₹12.5-₹7.5 gasoline ₹1.5-₹4
Diesel export duty drops from ₹14 to ₹8.5 per liter, and ATF goes down from ₹12.5 to ₹7.5 per liter, thanks to less risk of supply issues globally.
Gasoline's export tax jumps from ₹1.5 to ₹4 per liter to help meet growing demand in India.
Exemptions for public sector exports now cover Mauritius and the Maldives too.