Govt hikes windfall tax on crude to Rs 9,800 per ton, reduces on diesel

The Indian government has increased the windfall tax on petroleum crude to 9,800 Indian rupees ($117.70) per ton from 9,050 rupees per ton starting Wednesday, according to a government notification on Tuesday.

The windfall tax on aviation turbine fuel that had been 1 rupee/liter has been removed, the notification said.

The government has also reduced the windfall tax on diesel to 2 rupees/litre from 4 rupees/litre.

India on Oct. 18 cut the windfall tax on petroleum crude to 9,050 rupees per ton from 12,100 rupees per ton.