India hikes windfall tax on petroleum crude to Rs 9,800/tonne

The Indian government has increased windfall tax on domestically produced petroleum crude to Rs 9,800 per tonne from Rs 9,050 per tonne from Nov. 1, according to a government notification. The windfall tax on aviation turbine fuel has been cut to nil from Re 1 per litre, the notification said.

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