Windfall profit tax on crude oil cut; levy on export of diesel, ATF hiked - Shahpur Turk CSC - Common Service Centre in Sonipat Windfall profit tax on crude oil cut; levy on export of diesel, ATF hiked

05 November 2022

Windfall profit tax on crude oil cut; levy on export of diesel, ATF hiked

The government on Tuesday cut the windfall tax on domestically produced crude oil while increasing the rate of export of diesel and jet fuel (ATF) in line with the rise in international oil prices. The tax on crude oil produced by firms such as state-owned Oil and Natural Gas Corporation (ONGC), was cut to Rs 9,500 per tonne from Rs 11,000, beginning November 2, a government notification showed.

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