Windfall Tax Hike: Windfall tax on diesel and ATF increased, notification issued

Cars at petrol pump.
– photo : dialogue

The government has increased the windfall profit tax on the export of diesel and ATF. Along with this, the levy on domestically produced crude oil has also been increased. A notification in this regard was issued by the government on Saturday.

The government on Saturday increased the windfall tax on export of diesel to Rs 12 per liter and on export of jet fuel to Rs 3.50 per liter with effect from October 16. Duty on domestically produced crude oil has also been increased by Rs 3,000 per tonne to Rs 11,000.

The Finance Ministry in its latest review has decided to hike export taxes on crude oil, diesel and ATF, after reducing tax rates for two consecutive fortnights in view of the fall in global crude oil prices.

According to a notification issued by the Finance Ministry, in the seventh fortnight review, the government has increased windfall tax on export of diesel from Rs 6.5 per liter to Rs 12 per liter and again on export of ATF (Aviation Turbine Fuel). A levy has been imposed at the rate of Rs 3.50 per litre.

MNREGA: 72 percent of the amount released to the states
The Ministry of Rural Development said on Saturday that the Center has so far released more than 72 per cent of the total amount allocated for MGNREGA to the states in the budget for 2022-23. The ministry said Rs 73,000 crore was allocated for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) in the Union Budget for 2022-23, of which Rs 52,833 crore has been allocated to the states so far.

Expansion

The government has increased the windfall profit tax on the export of diesel and ATF. Along with this, the levy on domestically produced crude oil has also been increased. A notification in this regard was issued by the government on Saturday.

The government on Saturday increased the windfall tax on export of diesel to Rs 12 per liter and on export of jet fuel to Rs 3.50 per liter with effect from October 16. Duty on domestically produced crude oil has also been increased by Rs 3,000 per tonne to Rs 11,000.

The Finance Ministry in its latest review has decided to hike export taxes on crude oil, diesel and ATF, after reducing tax rates for two consecutive fortnights in view of the fall in global crude oil prices.

According to a notification issued by the Finance Ministry, in the seventh fortnight review, the government has increased windfall tax on export of diesel from Rs 6.5 per liter to Rs 12 per liter and again on export of ATF (Aviation Turbine Fuel). A levy has been imposed at the rate of Rs 3.50 per litre.

MNREGA: 72 percent of the amount released to the states

The Ministry of Rural Development said on Saturday that the Center has so far released more than 72 per cent of the total amount allocated for MGNREGA to the states in the budget for 2022-23. The ministry said Rs 73,000 crore was allocated for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) in the Union Budget for 2022-23, of which Rs 52,833 crore has been allocated to the states so far.