Centre hikes windfall tax on crude oil to Rs 7,000 per tonne

The Indian government has increased the windfall tax on domestically produced crude oil to Rs 7,000 per tonne, up from Rs 6,000 per tonne, effective from July 16. This tax, imposed as Special Additional Excise Duty (SAED), was previously raised on July 1 from Rs 3,250 per metric ton. The export duty on diesel, petrol, and Aviation Turbine Fuel (ATF) remains at zero.