Govt increases windfall tax on petroleum, slashes levies on diesel and ATF

India has actually treked the windfall tax on petroleum while minimizing the tax on diesel and air travel turbine fuel, according to a federal government alert.

The federal government treked the windfall tax on petroleum petroleum to 2,300 ($ 27.63) a tonne from 1,300, it stated.

A tax on diesel of 50 paise per litre was removed, it stated as was a one rupee per litre windfall tax on air travel fuel.

The federal government enforced a windfall tax on petroleum manufacturers in July 2022 and extended the levy on exports of fuel, diesel and air travel fuel as personal refiners wished to offer fuel overseas to make gains from robust refining margins rather of offering in your area.


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