New Delhi: With certain refiners drying out their pumps finding exports highly remunerative, the government has imposed special additional excise duty/cesses on exports of petrol and diesel.
Accordingly, cesses equal to Rs 6 per litre on petrol and Rs 13 per litre on diesel have been imposed on their exports. The additional levy would apply to any export of diesel and petrol from the country.
The Finance Ministry in a statement on Friday said that while crude prices have increased sharply in recent months, the prices of diesel and petrol have shown a sharper increase.
“The refiners export these products at globally prevailing prices, which are very high. As exports are becoming highly remunerative, it has been seen that certain refiners are drying out their pumps in the domestic market. In view of this, cesses equal to Rs 6 per litre on Petrol and Rs 13 per litre on diesel have been imposed on their exports,” it said.
As the cess has been imposed on exports, it will have no implication on domestic retail prices of diesel and petrol.
In addition to imposition of cess, the exporters would be required to declare at the time of exports that 50% of the quantity mentioned in the shipping bill has been/will be supplied in the domestic market during the current financial year.
“These measures would not have any adverse impact on domestic retail prices of diesel and petrol. Thus, domestic retail prices would remain unchanged. At the same time these measures will ensure domestic availability of the petroleum products,” said the Finance Ministry.
A special additional excise duty (SAED) of Rs 6 per litre has also been imposed on exports of Aviation Turbine Fuel (ATF).