- Busines Today
Govt cuts windfall tax on petroleum crude, no change in duty on diesel and petrol
The Centre on Monday cut the windfall tax on petroleum crude to Rs 4,100 per tonne from Rs 6,400 per tonne effective from May 2. It has reduced the windfall tax on domestic production of crude by nearly 36 per cent.
The government, which revises tax rates fortnightly based on oil price fluctuations, has made no change in the windfall tax on petrol, diesel, and aviation turbine fuel.