‘Submit new airfare rules by 16 Nov’:SC asks govt; jet fuel taxes retained

The government has cut the windfall tax on diesel exports from ₹16 to ₹8.5 per litre and raised the levy on petrol exports from ₹0.5 to ₹2.5 per litre for the fortnight beginning 16 October. The duty on aviation turbine fuel (ATF) exports has been retained at Rs 10.5 per litre. The revised rates will come into effect on 16 October, according to a Finance Ministry notification issued on Friday. Diesel export duty reduced Windfall tax introduced amid West Asia tensions The government imposed an export duty on diesel and ATF on 27 March amid escalating tensions in West Asia. The rates have been reviewed and revised every fortnight since then. The levy on petrol exports was introduced from 16 May. Aim to ensure domestic fuel availability The windfall tax was introduced to ensure adequate domestic availability of petroleum products amid the conflict in West Asia. It also aims to discourage exporters from taking undue advantage of the difference between domestic and international prices, particularly after global crude oil prices rose following the outbreak of the war. By making exports less attractive, the government seeks to prioritise domestic fuel supplies during the ongoing crisis.