The central government on Wednesday hiked the windfall profit tax on exports of diesel and Aviation Turbine Fuel (ATF). Besides, windfall gains tax on domestically-produced crude oil was also hiked in line with the hardening of global prices. The revised rates are effective today (1 September). At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to Rs 13.5 per litre from Rs 7 per litre earlier, and on Aviation Turbine Fuel (ATF) exports to Rs 9 from Rs 2 per litre, according to a Ministry of Finance notification. The tax on domestically-produced …
