India Removes Windfall Tax on Locally Produced Crude Oil

India’s government removed windfall tax on crude oil effective Wednesday, according to a government notification.

• Windfall duty on exports of petrol, diesel and ATF continues at nil
• The Indian government revises windfall tax every fortnight
• NOTE: Domestically produced crude had a windfall tax of 1,850 rupees a ton from Sept. 1-17

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Pradeep Kurup

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