Authorities hikes windfall tax on petroleum crude to 9,800 rupees/ton
The Indian authorities has elevated the windfall tax on petroleum crude to 9,800 Indian rupees ($117.70) per ton from 9,050 rupees per ton beginning Wednesday, in accordance with a authorities notification on Tuesday.
The windfall tax on aviation turbine gas that had been 1 rupee/liter has been eliminated, the notification mentioned. The federal government has additionally diminished the windfall tax on diesel to 2 rupees/litre from 4 rupees/litre.
India on Oct. 18 reduce the windfall tax on petroleum crude to 9,050 rupees per ton from 12,100 rupees per ton.
India had imposed a windfall tax on crude oil producers in July final yr and prolonged the levy on exports of gasoline, diesel and aviation gas after personal refiners wished to make features from strong refining margins in abroad markets as a substitute of promoting it domestically.
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Up to date: 31 Oct 2023, 07:37 PM IST
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