Windfall profit tax on crude oil cut

New Delhi: The government has cut the windfall profit tax on crude oil produced in the country while the levy on exports of diesel and ATF has been hiked, an official notification said.

The tax, levied in the form of special additional excise duty or SAED, on domestically produced



crude oil was reduced to Rs 6,700 per tonne from Rs 7,100 a tonne.

SAED on the export of diesel was increased to Rs 6 per litre from Rs 5.50 a litre and on jet fuel or ATF to Rs 4 per litre from Rs 2, the notification said.