Last Updated: May 16, 2023, 01:20 IST
FILE PHOTO: An Oil and Natural Gas Corp’s (ONGC) well is pictured in an oil field on the outskirts of the western city of Ahmedabad, India, February 10, 2016. (Image: REUTERS)
New Delhi left the windfall tax on petrol, diesel and aviation turbine fuel (ATF) unchanged at zero
India has cut windfall tax on petroleum crude to zero from 4,100 rupees ($50.13) per tonne, effective May 16, according to a government notification.
It left the windfall tax on petrol, diesel and aviation turbine fuel (ATF) unchanged at zero.
On May 1, the levy on petroleum crude was lowered to 4,100 rupees per tonne from 6,400 rupees per tonne.
India last July had imposed the windfall tax on crude oil producers and extended the levy on exports of gasoline, diesel and ATF after private refiners wanted to make gains from robust refining margins in overseas markets.
($1 = 81.7800 Indian rupees)
(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
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