- News>
- Economy
Centre Hikes Windfall Tax On Crude, Diesel And Jet Fuel; New Rates Applicable From Today
India had first imposed windfall profit taxes on July 1, 2022, joining a growing number of nations that tax the supernormal profits of energy companies.
New Delhi: The government on Monday raised the windfall tax on domestically-produced crude, diesel and aviation turbine fuel (ATF) or jet fuel.
The windfall tax on crude oil will increase from Rs 4,250 to Rs 7,100 per tonne, according to a gazette notification issued on Monday.
It has also increased the levy on diesel from Rs 1 to Rs 5.50 per litre and on jet fuel from nil to Rs 2 per litre.
The new rates will be applicable from August 15 onwards, the notification said.
India had first imposed windfall profit taxes on July 1, 2022, joining a growing number of nations that tax the supernormal profits of energy companies.
The government revises windfall tax imposition on a fortnightly basis.