Windfall tax up on diesel and jet fuel export

The government on Tuesday raised the windfall tax on export of diesel to 13 from12 per litre, and on jet fuel to Rs 5 from Rs 3.5 per litre, as refining margins increased in the last fortnight.

It, however, reduced the levy on domestically-produced crude oil to Rs 9,500 from Rs 11,000 per tonne, taking into account global crude prices moderation in the eighth fortnightly review of the one-off taxes on oil companies.