News > India cuts windfall tax on crude, aviation fuel
India cuts windfall tax on crude, aviation fuel
16/12/2022 05:59 PM | Click to read full article
The Centre on Friday cut the windfall profit tax on domestically produced crude oil and the levy on aviation turbine fuel exports. The revised tax rates become effective from December 16, 2022. The tax on crude oil produced by local firms has been reduced to Rs 1,700 per tonne from Rs 4,900 per tonne. Meanwhile, the windfall tax on aviation turbine fuel has been reduced from Rs 5 per litre to Rs 1.5 per litre.
