Windfall tax reduction once again, oil companies will benefit

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- Earlier per tonne Rs. 400 was increased

New Delhi: The central government has once again changed the windfall tax. This time the government has reduced the windfall tax. Windfall tax on crude oil, diesel and jet fuel has been reduced. Earlier on January 2, the windfall tax was increased by Rs 400 per tonne.

Windfall tax on crude oil produced in the domestic market has been reduced by Rs 200 per tonne to Rs 1,900 per tonne from Rs 2,100 per tonne earlier. At the same time, jet fuel (ATF) has been reduced by Rs 1 per litre. Now ATF has become 3.5 rupees per litre, earlier its price was 4.5 rupees per litre.

Windfall tax on diesel has been reduced by Rs 1.5. Now it has reduced from 6.5 rupees per liter to 5 rupees per litre. There will be no tax on petrol. Earlier also there was no tax on export of petrol.

Earlier on January 2, the windfall tax was increased by Rs 400 per tonne. That is, the windfall tax on domestically produced crude oil was increased from 1700 rupees per tonne to 2100 rupees per tonne.

While there was an increase of Rs 1.5 on the export of diesel, earlier this duty was Rs 5, which has been increased to Rs 6.5. Apart from this, ATF was increased by Rs 3 per litre. Reduction in windfall tax will benefit oil companies.


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