India imposed the windfall tax on crude oil producers in July final yr
New Delhi:
The federal government has elevated the windfall tax on petroleum crude to 10,000 rupees ($120.36) per ton from 6,700 rupees, efficient September 16, based on a authorities notification on Friday.
The federal government additionally minimize the windfall tax on aviation turbine gas to three.50 rupees per litre from 4 rupees.
The levy on diesel has been minimize to five.50 rupees per litre from 6 rupees, the notification mentioned.
On September 1, the federal government minimize the windfall tax on petroleum crude to six,700 rupees per ton from 7,100 rupees.
India imposed the windfall tax on crude oil producers in July final yr and prolonged the levy on exports of gasoline, diesel and aviation gas after non-public refiners needed to make positive aspects from sturdy refining margins in abroad markets, as a substitute of promoting at dwelling.
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