The government on Wednesday slashed the windfall tax on petrol, diesel, jet fuel and crude oil following a decline in international rates.
It scrapped a ₹6 a litre tax on export of petrol and reduced the same on ATF from ₹6 a litre to ₹4. Besides, the tax on diesel has been reduced to ₹11 from ₹13 per litre, according to finance ministry notifications.
Further, the ₹23,250 per tonne additional tax on crude oil produced domestically has been cut to ₹17,000 per tonne.
July 20, 2022