India has raised its windfall tax on petroleum, crude oil and aviation turbine gas, based on a authorities order dated January 2.
It raised the windfall tax on crude oil to Rs 2,100 per tonne from Rs 1,700 ($20.55), efficient on Tuesday, the order mentioned.
The federal government additionally raised export tax on diesel to Rs 6.50 per litre from Rs 5, whereas elevating the windfall tax on ATF to Rs 4.5 per litre from Rs 1.5, the doc confirmed.
India, the world’s largest client and importer of oil, has been shopping for Russian crude barrels at properly beneath a $60 worth cap agreed by the West.
The nation in July imposed the windfall tax on crude oil producers and levies on exports of gasoline, diesel and aviation gas after non-public refiners sought abroad markets to achieve from strong refining margins, as a substitute of promoting at lower-than-market charges within the nation.
It raised the windfall tax on crude oil to Rs 2,100 per tonne from Rs 1,700 ($20.55), efficient on Tuesday, the order mentioned.
The federal government additionally raised export tax on diesel to Rs 6.50 per litre from Rs 5, whereas elevating the windfall tax on ATF to Rs 4.5 per litre from Rs 1.5, the doc confirmed.
India, the world’s largest client and importer of oil, has been shopping for Russian crude barrels at properly beneath a $60 worth cap agreed by the West.
The nation in July imposed the windfall tax on crude oil producers and levies on exports of gasoline, diesel and aviation gas after non-public refiners sought abroad markets to achieve from strong refining margins, as a substitute of promoting at lower-than-market charges within the nation.
