Tag: tax

India has cut windfall tax on petroleum crude, aviation turbine fuel and diesel, according to a government notification on Tuesday. The windfall tax on petroleum crude will be reduced to 9,050 Indian rupees ($108.74) per ton from 12,200 Indian rupees per ton, effective Oct 18. The government also cut windfall tax on aviation turbine fuel to 1 rupee per litre from 3.50 rupees per litre and reduced windfall tax on diesel to 4 rupees per litre from 5 rupees per litre.Last month, on Sept 29, government had increased windfall tax...