India announces increase in windfall tax on crude oil Reduce taxes on diesel and jet fuel.

India announces increase in windfall tax on crude oil Reduce taxes on diesel and jet fuel. This is because private refiners want to sell fuel overseas to profit from strong refining margins. instead of selling within the country

On January 1, 2566, Reuters news agency reported that India announces an increase Windfall tax on crude oil At the same time, taxes on diesel and aviation turbine fuel were reduced.

The Indian government has increased Crude oil windfall tax to 2,300 rupees, or about 27.63 US dollars per tonne from the previous level of 1,300 rupees per ton.

The government also scrapped the 0.5 rupee per liter tax on diesel, as well as the 1 rupee per liter windfall tax on jet fuel.

India will impose a windfall tax on crude oil producers in July 2565 and expand the tax on exports of gasoline, diesel and aviation fuel. This is because private refiners want to sell fuel overseas to profit from strong refining margins. instead of selling within the country

Note: 1 dollar = 83.2375 Indian rupee

refer : reuters.com

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