India Raises Windfall Tax on Diesel, Local Oil and Aviation Fuel

India raised windfall taxes on locally-produced crude oil and exports of diesel and aviation turbine fuel, reversing some of the relief it had given earlier this month.

The tax on crude oil produced from domestic field has been raised by 37.5% to 11,000 rupees ($133.56) per ton effective from Oct. 16, according to a government notificationpublished late on Saturday. Exports of aviation fuel will again attract a levy of 3.50 rupees per liter after it was scrapped on Oct. 1.

The tariff on diesel exports will increase to 12 rupees a liter, including road infrastructure cess, from Oct. 16, ...