The government on Monday cut the windfall profit tax on crude oil produced in the country and on exports of diesel.
The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil has been reduced to ₹1,300 from ₹5,000 per tonne, according to an official notification.
SAED on the export of diesel has been reduced to ₹0.50 a litre from ₹1 per litre.
