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The Centre has increased export duties on petroleum products, raising the levy on high-speed diesel to Rs 55.5 per litre and on aviation turbine fuel (ATF) to Rs 42 per litre, according to a gazette notification issued by the Ministry of Finance.
The move, which comes into force "with immediate effect", is aimed ensuring domestic supply amid evolving global energy dynamics and not allowing exporters to take undue advantage due to price differences, officials said. "Satisfied that the Special Additional Excise Duty leviable... on High speed diesel oil, should be increased and that circumstances exist which render it necessary to take immediate action," the notification said. Changes are being made in the Eighth Schedule of the Finance Act, 2002. "For the entry... 'Rs. 24 per litre' shall be substituted," the notification said, revising the duty structure applicable to export of diesel. The government also raised the Road and Infrastructure Cess on high speed diesel, stating that it was "satisfied that the Road and Infrastructure Cess... on High speed diesel oil, should be increased," and that "the entry 'Rs. 36 per litre' shall be substituted." The revised structure effectively pushes the total export duty on high speed diesel to Rs 55.5 per litre, up from Rs 21.5 per litre earlier. Similarly, the duty on aviation turbine fuel (ATF) has been increased to Rs 42 per litre from Rs 29.5 per litre, as per the amended notification, which states that "for the entry... the entry 'Rs. 42 per litre' shall be substituted." At the same time, export duty on petrol remains unchanged at zero. Officials said the notifications were issued under powers granted by the Central Excise Act, 1944 and relevant provisions of the Finance Acts, and emphasised that the changes were necessary in the "public interest." All five notifications noted that "circumstances exist which render it necessary to take immediate action". (ANI)
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