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| Photo Credit: REUTERS
The authorities on Thursday hiked windfall tax on domestically produced crude oil to ₹3,300 per tonne from ₹3,200 per tonne with impact from Friday.
The tax is levied within the type of a Special Additional Excise Duty (SAED).
According to an official notification, SAED on the export of diesel too has been hiked to ₹1.50 a litre from nil earlier.
On petrol and jet gasoline or ATF, the levy can be retained at nil.
The new charges are efficient from February 16.
India first imposed windfall revenue taxes on July 1, 2022, becoming a member of a bunch of countries that tax supernormal income of vitality firms.
The tax charges are reviewed each fortnight based mostly on common oil costs within the earlier two weeks.
