WIRE — Amid rising crude oil prices due to renewed tensions in the Middle East, the government has increased the windfall gains tax on exports of diesel and ATF, while lowering the levy on petrol for the fortnight beginning July 16. The government reviews the windfall tax every 15 days. The rate of Special Additional Excise Duty (SAED) on diesel exports has been increased to Rs 15.5 a litre from Rs 8.5 a litre. Similarly, SAED on ATF exports has been raised to Rs 14.5 per litre from Rs 7.5 per litre till July 15.
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