India raises windfall tax
NEW DELHI: India raised its windfall tax on crude oil marginally while cutting the tax on exports of diesel, according to a government notification on Saturday.
The windfall tax on crude was raised to 4,400 rupees ($53.87) per tonne from 4,350 rupees, effective immediately, while the tax on diesel export was cut to 0.5 rupees per litre from 1.5 rupees a litre.
The government said it scrapped a windfall tax of 1.5 rupees a litre on aviation turbine fuel.
Published in Dawn, March 5th, 2023
