The Indian government has reduced the windfall tax on locally sourced crude oil to Rs 1,900 per ton as oil prices have fallen across the world.
Center made the decision to reduce the windfall tax from Rs 2,100 per ton after two weeks. The government has also lowered the additional excise tax on jet fuel (ATF) exports from Rs 4.5 liters to Rs 3.5 per liter.
In addition, the export duty on diesel was lowered to Rs 5 per liter, including the levy of Rs 6.5 per liter,…
