The government, which revises tax rates fortnightly based on oil price fluctuations, has made no change in the windfall tax on petrol, diesel, and aviation turbine fuel.
Vedanta on January 31 and on February 20 informed the ministry of petroleum and natural gas that it has made a deduction of USD 85.35 million for SAED paid on its prolific Rajasthan block, RJ-ON-90/1, and another USD 5.50 million for block CB-OS/2 in Cambay basin
The rate on the export of diesel has been cut to ₹10.5 per litre, from ₹13 per litre. The levy on diesel includes ₹1.50 per litre road infrastructure cess. The export tax on jet fuel or ATF, which was set at ₹5 a litre in the last review on November 1, has not been altered