Shares of Mukesh Ambani-led Reliance Industries (RIL) gained around 1% on Thursday after the government slashed windfall tax on petroleum exports, reducing levies on petrol, diesel and aviation turbine fuel (ATF) as part of its fortnightly review of export duties.
The duty on diesel exports has been cut to Rs 20 per litre from Rs 25 earlier, while the levy on export of petrol has been cut to Rs 0.5 per litre from Rs 1.5 earlier, according to a government order issued late on Wednesday. The tax on aviation turbine fuel has been set at Rs 15 per litre from Rs 19 earlier. The excise duty on petrol and diesel meant for domestic consumption remained unchanged.
