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, in response to a authorities notification on Friday.
The federal government additionally reduce the windfall tax on aviation turbine gas to three.50 rupees per litre from four rupees.
The levy on diesel has been reduce to five.50 rupees per litre from 6 rupees, the notification mentioned.
On September 1, the federal government reduce 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 wished to make beneficial properties from strong refining margins in abroad markets, as a substitute of promoting at house.
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