Home Finance News Centre hikes windfall tax on home crude oil

Centre hikes windfall tax on home crude oil

New Delhi, Nov 17 The Central authorities has hiked windfall tax on home crude oil and lowered the tax on export of diesel.

The tax on crude oil produced by State-owned ONGC was hiked to Rs 10,200 per tonne from Rs 9,500 per tonne, with impact from Thursday, in accordance with a notification.

The revision in windfall tax is completed each fortnight.

The federal government has additionally lowered the speed on export of diesel to Rs 10.5 per litre, from Rs 13 per litre.

The levy on diesel contains Rs 1.50 per litre street infrastructure cess.

The export tax on jet gasoline although has been left unchanged, which stands at Rs 5 a litre.

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