Major hike in windfall tax on petro products

New Delhi, October 15 The government on Saturday effected a major hike in the windfall tax on domestically produced crude oil, export of diesel and levy on overseas shipment of jet fuel (ATF) even as there has been a marginal...

Tribune News Service

Updated At : 11:39 AM Oct 16, 2022 IST

New Delhi, October 15

The government on Saturday effected a major hike in the windfall tax on domestically produced crude oil, export of diesel and levy on overseas shipment of jet fuel (ATF) even as there has been a marginal rise in global oil prices.

The tax on crude oil produced by firms such as ONGC and Oil India was increased to Rs 11,000 per tonne with effect from Sunday from the prevailing Rs 8,000 per tonne. The tax on export of diesel was more than doubled to Rs 12 per litre from Rs 5 a litre. It also includes Rs 1.50 per litre road infrastructure cess, according to a notification.

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