Govt hikes windfall tax on domestically produced crude

India on Wednesday raised the windfall tax on domestically produced crude oil to ₹10,200 per tonne from ₹9,500.

It slashed the special additional excise duty on the export of diesel to ₹10.50 per litre from ₹13.00.

The changes are effective November 17, according to a notification issued late Wednesday.


The duty on aviation turbine fuel exports remains unchanged at ₹5 a litre.

This is the ninth revision in rates since the introduction of the windfall tax on July 1.

The fortnightly revision in tax rates is based on the prevailing international prices of crude oil.