Windfall tax on crude and diesel up, export levy restored on jet fuel
NEW DELHI: The Centre on Saturday raised windfall tax on crude produced from domestic fields by more than a third, doubled the export tax on diesel and restored the levy on outbound jet fuel shipment to mop up part of benefit accruing to the producers from the recent increase in global oil prices.
According to a government notification, the windfall tax on domestic crude pumped by companies such as state-run ONGC and Oil India Ltd was raised to Rs 11,000 per tonne from Rs 8,000.
The export tax on diesel was increased to Rs 12 per litre from Rs 5. This includes Rs 1.50 per litre road infrastructure cess.
