The government on Tuesday cut the windfall tax on domestically produced crude while raising the export tax on diesel and jet fuel (ATF) in line with the rise in international oil prices.
The tax on crude oil produced by companies including the state-owned Oil and Natural Gas Corporation (ONGC) has been reduced from Rs 11,000 to Rs 9,500 per tonne from November 2, according to a government notice.
In the fortnightly revision of the windfall tax, the government raised the rate on diesel exports to…
