₹9,600 a tonne with effect from Tuesday. The levy stood at ₹6,800 a tonne for the past two weeks.
The windfall tax on the export of petrol, diesel and aviation turbine fuel remains zero. The centre first imposed the windfall taxes on the sale of locally produced crude oil from 1 July, 2022 as oil exploration and producing companies made huge profits amid multi-year-high crude oil prices following Russia’s invasion of Ukraine.
The additional levies are reviewed every fortnight based on average oil prices in the previous two weeks. With oil prices expected to surge, the windfall tax could also increase increase further.Milestone Alert!
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