India reduced windfall tax on domestically-produced crude oil to Rs 5,200 per tonne, effective June 1.

India reduced its windfall tax on domestically-produced crude oil to Rs 5,200 per tonne from Rs 5,700, effective June 1. The tax is levied as Special Additional Excise Duty (SAED) and remains unchanged at zero for diesel and aviation turbine fuel. This is the second cut in windfall tax on petroleum crude since May 16, when it was reduced from Rs 8,400 to Rs 5,700 per metric ton.

May 31, 2024
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