Authorities Hikes Windfall Tax On Crude Oil


India has elevated the windfall tax on crude oil whereas concurrently lowering the taxes imposed on diesel and aviation turbine gasoline, as per an official authorities notification.The federal government introduced an elevation within the windfall tax on petroleum crude oil, elevating it from Rs 1,300 to Rs 2,300 per tonne.The federal government eliminated the tax of Rs 0.5 per litre on diesel and likewise eliminated a Rs 1 per litre windfall tax on aviation gasoline.

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