India has increased the windfall tax on crude oil while simultaneously reducing the taxes imposed on diesel and aviation turbine fuel, as per an official government notification.The government announced an elevation in the windfall tax on petroleum crude oil, raising it from Rs 1,300 to Rs 2,300 per tonne.The government removed the tax of Rs 0.5 per litre on diesel and also removed a Rs 1 per litre windfall tax on aviation fuel.
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This article was written byFollowFred Piard, PhD. is a quantitative analyst and IT professional with over 30 years of experience...
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