NEW DELHI, Feb 3 (Reuters): India raised its windfall tax on petroleum crude to 3,200 rupees/tonne from 1,700 rupees from Saturday while keeping the windfall tax on diesel and aviation turbine fuel at zero, the government said late on Friday.
On January 16, the government cut windfall tax on petroleum crude from 2,300 rupees a tonne.
From July 2022, India imposed a windfall tax on crude oil producers, and extended the levy on exports of gasoline, diesel and aviation fuel as private refiners wanted to sell fuel overseas to make gains from robust refining margins instead of selling locally.
India raises windfall tax on petroleum crude
FE Team | Published: February 03, 2024 21:42:57
India raises windfall tax on petroleum crude
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