Windfall tax on crude cut, export levy on petrol goes3 min read . Updated: 21 Jul 2022, 12:41 AM IST
- Reductions part of first review promised when taxes were introduced this month
- The reduction in windfall cess is positive for oil explorers, but gains will likely be offset by lower net realizations
NEW DELHI : The government slashed the windfall tax on crude oil by 27%, withdrew an export tax on petrol and cut the same on diesel and jet fuel, offering relief to state-run oil producers and refiners such as Reliance Industries Ltd and Rosneft-backed Nayara Energy.
Select your Category