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The Indian authorities elevated windfall tax on petroleum crude, whereas decreased it on aviation turbine gas and diesel, based on a authorities notification on Friday.
The windfall tax on petroleum crude shall be raised to 12,100 rupees ($145.65) per ton from 10,000 rupees ($120.37), efficient Sept. 30.
The levy has been lower on aviation turbine gas to 2.50 rupees per litre from 3.50 rupees per litre, whereas on diesel to five rupees per litre from 5.50 rupees.
On Sept. 16, the federal government had raised the windfall tax on petroleum crude to 10,000 rupees per ton from 6,700 rupees.
India imposed the windfall tax on crude oil producers in July final 12 months and prolonged the levy on exports of gasoline, diesel and aviation gas after personal refiners wished to make positive aspects from sturdy refining margins in abroad markets, as an alternative of promoting at dwelling.
First Revealed: Sep 29 2023 | 11:09 PM IST
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