Govt Imposes Special Additional Excise Duty on Fuel Exports
New Delhi: The Centre has levied a Special Additional Excise Duty (SAED) on exports of key petroleum products, while keeping domestic fuel rates unchanged.
As per the latest notification, exports of petrol will attract SAED of Rs 4 per litre, diesel Rs 8.5 per litre, and Aviation Turbine Fuel (ATF) Rs 7.5 per litre.
The government has extended an exemption from the duty to exports to Mauritius and Maldives, in addition to the existing exemption for Nepal, Bhutan, Bangladesh and Sri Lanka.
Officials clarified that there is no change in the existing excise duty rates on petrol and diesel cleared for domestic consumption.
The move is aimed at addressing windfall gains for oil companies on overseas sales amid volatile global crude prices, while ensuring domestic supply and price stability.
