New Delhi: The Centre on Wednesday reduced the price of Aviation Turbine Fuel (ATF) for Indian domestic airlines by Rs 5 per litre, bringing the effective price down to Rs 110 per litre.
On Tuesday, the government also revised export duties on petrol, diesel and ATF for the fortnight beginning July 1, while keeping the excise duty on petrol and diesel sold in the domestic market unchanged.
The Ministry of Finance issued two notifications revising the Special Additional Excise Duty (SAED) on fuel exports as part of its fortnightly review mechanism, introduced to ensure adequate domestic fuel supplies.
The export duty has been fixed at Rs 4 per litre for petrol, Rs 8.5 per litre for diesel, and Rs 7.5 per litre for ATF. The Road and Infrastructure Cess (RIC) remains nil, making the SAED the entire export levy. The revised rates took effect on July 1.
The government reviews these rates every two weeks based on the average international prices of crude oil, petrol, diesel and ATF. The previous revision was announced on June 16.
The Centre has also expanded the list of countries exempt from these export duties. In addition to Nepal, Bhutan, Bangladesh and Sri Lanka, the exemption now covers Mauritius and the Maldives.
There is no change in the excise duty on petrol and diesel sold for domestic consumption. As a result, the revised export duties will affect exporters but will not have a direct impact on fuel prices at retail outlets in India.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: deccanchronicle.com
