India cuts windfall tax on fuel and aviation turbine fuel exports

New Delhi – The Finance Ministry disclosed a cut in the windfall tax applied to the export of petroleum products and aviation turbine fuel (ATF). The move lowers the levy that exporters previously paid on overseas shipments of these fuels. Officials said the reduction is intended to make Indian fuel exports more competitive in global markets and to encourage higher foreign exchange earnings. Industry analysts expect the tax relief to stimulate export volumes, though the exact impact will depend on international demand and price trends. The government has not released the revised tax rates, but confirmed that the new structure will be effective from the upcoming fiscal quarter.