8 December 2022

New Delhi: The Centre on Saturday raised the windfall tax on crude produced from domestic fields by more than a third, doubled the export tax on diesel, and restored the levy on outbound jet fuel shipment to mop up part of the benefit accruing to the producers from the recent increase in global oil prices.

Windfall tax on crude & diesel
Windfall tax on crude & diesel

According to a notification, the windfall tax on domestic crude pumped by companies such as state-run ONGC and Oil In dia Ltd was raised to Rs 11,000 per tonne from Rs 8,000. The export tax on diesel was increased to Rs 12 per liter from Rs 5.

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