Government hiked the windfall profit tax on Domestically produced crude oil and exports of diesel and Aviation Turbine Fuel (ATF). Revised rates are effective from 1 Sept 2022.
The windfall profit tax on the export of diesel was hiked to Rs 13.5 per litre from Rs 7 per litre earlier, and on Aviation Turbine Fuel (ATF) exports to Rs 9 from Rs 2 per litre. The tax on domestically-produced crude oil too has been hiked to Rs 13,300 per tonne from Rs 13,000 earlier.
Source: Financial Express