Windfall profit tax on crude oil halved, tax on diesel exports cut too much

India introduced a tax on windfall profits for the first time on July 1, joining a growing number of nations taxing abnormal profits from energy companies.

The government has slashed the windfall profits tax on domestically produced crude to less than half and also lowered the levy on diesel (REUTERS/FILE)

The government on Thursday cut the windfall profit tax to less than half on domestic …