India cuts windfall tax on diesel, aviation fuel shipments
New Delhi also cut the tax on domestically produced crude to 17,000 rupees a tonne, effective July 20.
Reuters
- Jul 20, 2022,
- Updated Jul 20, 2022 7:42 AM IST
India has cut a windfall tax on diesel and aviation fuel shipments by 2 rupees a liter, according to a government notification.
New Delhi also cut the tax on domestically produced crude to 17,000 rupees a tonne, effective July 20.
On July 1, India had imposed the windfall tax on oil producers and refiners who boosted product exports to gain from higher overseas margins.
Advertisement
India has cut a windfall tax on diesel and aviation fuel shipments by 2 rupees a liter, according to a government notification.
New Delhi also cut the tax on domestically produced crude to 17,000 rupees a tonne, effective July 20.
On July 1, India had imposed the windfall tax on oil producers and refiners who boosted product exports to gain from higher overseas margins.
Advertisement
Read more!