(ET)
The Centre has reduced windfall tax and exports levy after the oil prices have softened in the international market. The decision was taken after a review on Monday, officials said. The Centre reduced the windfall tax on domestically produced crude to Rs 17,000 a tonne and also cut levy on exports on diesel by Rs 2 and aviation-fuel exports would be cut by 2 rupees a litre.
It also exempted special additional excise duty levied on exports, when done from the special economic zone. “Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the excisable goods, when exported from units located in the Special Economic Zone (SEZ),” a notification said.
