Govt cuts windfall tax on fuel exports following decline in international rates

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The government on Wednesday slashed the windfall tax on petrol, diesel, jet fuel and crude oil following a decline in international rates.

It scrapped Rs 6 a litre tax on the export of petrol and reduced the same on ATF from Rs 6 a litre to Rs 4. Besides, the tax on diesel has been reduced to Rs 11 from Rs 13 per litre, according to finance ministry notifications. Further, the Rs 23,250 per tonne additional tax on crude oil produced domestically has been cut to Rs 17,000 per tonne.

(PTI Inputs)

Also Read | Maharashtra: Petrol price cut by Rs 5 per Litre, diesel by Rs 3, announces CM Eknath Shinde

Also Read | Central Government slaps tax on petrol, diesel exports; imposes windfall tax on crude oil

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