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India hikes tax on locally produced crude, cuts export taxes on diesel, jet fuel
India raised the tax on domestically produced crude to 17,750 rupees ($226.14) per tonne from 17,000 rupees per tonne.
Published on: Aug 3, 2022, 04:23:03 IST
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India has increased tax on locally produced crude oil and cut export taxes on jet fuel and diesel, according to a government notification on Tuesday.
India raised the tax on domestically produced crude to 17,750 rupees ($226.14) per tonne from 17,000 rupees per tonne, while cutting export taxes on jet fuel to zero from 4 rupees per litre and diesel to 5 rupees per litre from 11 rupees per litre. ($1 = 78.4900 Indian rupees).
