NEW DELHI: The government on Tuesday cut special additional excise duty (SAED) on crude petroleum to Rs 9,050/tonne with effect from October 18.
In the last fortnightly review on September 29, windfall tax on domestically produced crude oil was set at Rs 12,200/tonne.
Besides, the SAED or duty on export of diesel will be reduced to Rs 4/litre, from Rs 5 per litre currently. The duty on jet fuel or ATF will be reduced to Rs 1/litre from Rs 2.5/litre currently.
SAED on petrol will continue at nil.
India first imposed windfall profit taxes on July 1, 2022.