Windfall tax on crude petroleum reduced to Rs 1,850/tonne
The Indian government has announced a reduction in the windfall tax on domestically-produced crude oil from Rs 2,100 to Rs 1,850 per tonne, effective from August 31, 2024. The special additional excise duty on the export of diesel, petrol, and jet fuel continues to be 'nil'. The tax rates are reviewed every fortnight based on recent oil price trends.
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The Indian government has announced a reduction in the windfall tax on domestically-produced crude oil from Rs 2,100 to Rs 1,850 per tonne, effective from August 31, 2024. The special additional excise duty on the export of diesel, petrol, and jet fuel continues to be 'nil'. The tax rates are reviewed every fortnight based on recent oil price trends. 
