Government removes windfall tax on ATF, crude products
The petroleum ministry on Monday (December 2, 2024) removed the windfall tax on aviation turbine fuel (ATF), crude products, diesel, and petrol, Zee Business reported. The ministry has also removed road and infra cess on petrol and diesel exports.
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The central governemnt first mposed windfall tax in July 2022. It is levied earn revenue from windfall gains made by producers of ATF, and crude products. Photo: File/Representational
The petroleum ministry on Monday (December 2, 2024) removed the windfall tax on aviation turbine fuel (ATF), crude products, diesel, and petrol, Zee Business reported.
The windfall tax was first introduced by the central government in July 2022 after global crude prices rose.
The ministry has also removed road and infra cess on petrol and diesel exports.
The purpose of the tax was to earn revenue from windfall gains made by producers.
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