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(Reuters) -India has lower the windfall tax on petroleum crude to Rs 4,100 ($50.14) per tonne from Rs 6,400 per tonne, efficient from Tuesday, in line with a authorities notification.
The federal government left the windfall tax on petrol, diesel and aviation turbine gas at zero.
The federal government revises tax charges fortnightly based mostly on oil value fluctuations.
On April 4, India lower the windfall tax on petroleum crude to zero from 3,500 rupees per tonne beforehand. The levy on crude was hiked to six,400 rupees per tonne on April 19.
India final July imposed the windfall tax on crude oil producers and prolonged the levy on exports of gasoline, diesel and aviation gas after personal refiners wished to make positive aspects from strong refining margins in abroad markets, as a substitute of promoting at residence.
($1 = 81.77 Indian rupees)
(Reporting by Mrinmay Dey and Nikunj Ohri; Enhancing by Shailesh Kuber and Leslie Adler)
(Solely the headline and movie of this report could have been reworked by the Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)
First Revealed: Could 02 2023 | 6:41 AM IST
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