According to a government directive dated January 2, India has increased windfall tax on petrol, crude oil, and aviation turbine fuel.
According to the ruling, the windfall tax on crude oil was increased from Rs 1,700 ($20.55) per tonne to Rs 2,100 ($25.38) per tonne as of Tuesday.
According to the paper, the federal government also increased the windfall tax on ATF from Rs 1.5 per liter to Rs 4.5 per liter and the export duty on fuel from Rs 5 to Rs 7.5 per liter.
India, the largest oil user, and importer in the world have been purchasing Russian crude barrels for far less than the $60 price ceiling set by the West.
The nation slapped the windfall tax on crude oil producers as well as charges on the exports of Petrol, diesel, and aviation fuel in July as a result of private refiners choosing to sell their products abroad to benefit from high refining margins rather than at below-market prices domestically.
Along with the assistance of the local police, the Delhi Transport Department has sent out up to 120 enforcement teams to put restrictions on the use of BS3 and BS4 diesel four-wheelers on city streets.More