Govt cuts windfall tax on diesel, aviation fuel

The government has reduced the windfall gains tax on exports of diesel and aviation turbine fuel effective today. The duty on diesel has been reduced to ₹16/litre from ₹20/litre, while the levy on aviation turbine fuel has been cut to ₹10.5/litre from ₹15/litre. The duty on petroleum exports remains unchanged at ‌₹0.5/litre.