Govt cuts windfall tax on crude oil output, diesel exports

Finance Ministry on Thursday announced revision in windfall tax on energy companies.

Windfall tax on crude production has been revised to Rs 4,900 per tonne, which comes into effect from December 2.

Special additional excise duty on diesel exports has been reduced to Rs 6.5 per litre.

India first imposed windfall profit taxes on July 1, joining a list of nations that tax super normal profits of energy companies.

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