Chennai, July 5 (TIWN) The special additional excise duty on exports of crude, petrol, diesel, and aviation turbine fuel announced by the Central government recently will not have any major impact on Reliance Industries Ltd (RIL), said experts.

The experts also said the additional duties will more than compensate the government which had cut the excise duty on petrol and diesel in May.  "With fuel export tax for refiners being reviewed every fortnight, we see limited impact on RIL's earnings, with above mid-cycle margins achievable despite the tax. However, stock implies cap at single-digit margins," said Morgan Stanley in a research report.  The Centre announced the levy of additional excise duty/cess of Rs 6/litre on petrol and Rs 13/litre on diesel exports.  The government also announced the levy of additional excise duty/cess of Rs 23,250/tonne on crude oil as special additional excise duty, since domestic crude producers sell to domestic refineries at international parity prices, and as a result, are making windfall gains.  Similarly in the case of aviation turbine fuel (ATF) exports, a special additional excise duty of Rs 6/litre was announced.