Diesel export falls 11% in July due to windfall profit tax
India’s diesel exports declined by 11 per cent in July and overseas shipment of petrol dropped by 4.5 per cent because of windfall profit tax.
India first imposed windfall profit taxes on July 1, joining a growing number of nations that taxes super normal profits of energy companies. Export duties of Rs 6 per litre were levied on petrol and aviation turbine fuel and Rs 13 a litre on diesel.
