Windfall tax on crude raised to Rs 4,250 per tonne

New Delhi: The government has hiked windfall tax on petroleum crude to ₹4,250 per tonne from ₹1,600 with effect from August 1. A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday.

The windfall tax on petrol and aviation turbine fuel has been left unchanged.

Earlier this month, the government raised the windfall tax on petroleum crude to ₹1,600 per tonne from zero.
India last July imposed the windfall tax on crude oil producers and extended the levy on exports of gasoline, diesel and aviation fuel after private refiners wanted to make gains from robust refining margins in overseas markets, instead of selling at home.