Govt slashes windfall tax on petroleum crude to Rs 1,850/tonne

After the recent cut this month, the goverment on Friday reduced windfall gains tax on petroleum products to Rs 1,850/tonne from Rs 2,100/tonne effective August 31, said official note. Previously, the government on August 17 revised the windfall gains tax on petroleum products, reducing the levy on domestic crude oil to Rs 2,100 per tonne, down from the previous Rs 2,400 per tonne.