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Petrol, Diesel To Become Cheaper? Government Lifts Windfall Tax On Fuel, Crude Oil
The government has officially removed the windfall tax on crude oil, aviation turbine fuel (ATF), petrol, and diesel exports. This decision, which takes effect immediately, follows nearly two months of discussions. However, the change is expected to benefit oil companies like Reliance and ONGC, as it could improve their refining profits. Moreover, the government has also withdrawn Road and Infrastructure Cess (RIC) on export of petrol and diesel.
The government has officially removed the windfall tax on crude oil, aviation turbine fuel (ATF), petrol, and diesel exports. This decision, which takes effect immediately, follows nearly two months of discussions. However, the change is expected to benefit oil companies like Reliance and ONGC, as it could improve their refining profits. Moreover, the government has also withdrawn Road and Infrastructure Cess (RIC) on export of petrol and diesel.
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