<p>The government has imposed export restrictions on petrol and diesel by directing exporters to supply a specified quantity in the domestic market, a move aimed at ensuring adequate availability within the country.</p>.<p>According to a notification of the Directorate General of Foreign Trade (DGFT), motor gasoline (petrol) exporter is "required to submit a self-declaration to the concerned customs authority at the time of export confirming that 50 per cent of quantity mentioned in the shipping bill has been/will be supplied in the domestic market during the current financial year".</p>.<p>For gas oil or automotive diesel exporters, the quantity has been fixed at 30 per cent.</p>.<p>However, exports to Bhutan and Nepal are exempted from this condition.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/business-news/opec-may-not-be-much-help-with-high-oil-fuel-prices-1122689.html" target="_blank">OPEC+ may not be much help with high oil, fuel prices</a></strong></p>.<p>The limit is also not applicable to 100 per cent Export Oriented Units (EoUs) and units in SEZs (Special Economic Zones). EoUs and SEZs are developed primarily for exports.</p>.<p>The notification said that the exporters will have to file a quarterly return to the ministry of petroleum and natural gas regarding the same.</p>.<p>The decision assumes significance as the government on Friday slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally.</p>.<p>A Rs 6 per litre tax on export of petrol and ATF and Rs 13 per litre tax on export of diesel is effective from July 1, finance ministry notifications showed.</p>.<p>The export tax has been imposed to deter companies from preferring overseas markets over domestic supplies. </p>
<p>The government has imposed export restrictions on petrol and diesel by directing exporters to supply a specified quantity in the domestic market, a move aimed at ensuring adequate availability within the country.</p>.<p>According to a notification of the Directorate General of Foreign Trade (DGFT), motor gasoline (petrol) exporter is "required to submit a self-declaration to the concerned customs authority at the time of export confirming that 50 per cent of quantity mentioned in the shipping bill has been/will be supplied in the domestic market during the current financial year".</p>.<p>For gas oil or automotive diesel exporters, the quantity has been fixed at 30 per cent.</p>.<p>However, exports to Bhutan and Nepal are exempted from this condition.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/business-news/opec-may-not-be-much-help-with-high-oil-fuel-prices-1122689.html" target="_blank">OPEC+ may not be much help with high oil, fuel prices</a></strong></p>.<p>The limit is also not applicable to 100 per cent Export Oriented Units (EoUs) and units in SEZs (Special Economic Zones). EoUs and SEZs are developed primarily for exports.</p>.<p>The notification said that the exporters will have to file a quarterly return to the ministry of petroleum and natural gas regarding the same.</p>.<p>The decision assumes significance as the government on Friday slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally.</p>.<p>A Rs 6 per litre tax on export of petrol and ATF and Rs 13 per litre tax on export of diesel is effective from July 1, finance ministry notifications showed.</p>.<p>The export tax has been imposed to deter companies from preferring overseas markets over domestic supplies. </p>