Government increases windfall tax on domestic crude to Rs 12,100 per tonne, cuts levy on diesel & ATF
The government hiked special additional excise duty (SAED) on crude petroleum to Rs 12,100 per tonne with effect from September 30. In the last fortnightly review on September 15, windfall tax on domestically produced crude oil was set at Rs 10,000 per tonne.
India first imposed windfall profit taxes on July 1, 2022. Pic: Reuters