Centre cuts tax on ATF
The Centre on Tuesday raised the windfall tax on crude petroleum producers by 4.41%, scrapped the INR 4 per litre levy on Aviation Turbine Fuel (ATF) exports, and reduced the cess on the export of diesel from INR 11 to INR 5 a litre, reports The Hindu. The changes are effective from today.
The government had levied fresh taxes on the export of petrol, diesel and ATF as well as the domestic sale of crude oil, on July 1, in view of runaway global prices, with a plan to review the taxation levels every fortnight. (Source: The Hindu)