Govt slashes windfall tax on diesel to Rs 0.50 per litre, nil on ATF.
The recent notion by the Indian admin to lower the windfall profit tax on exports to a min of Rs 0.50 per liter and complete waiver of aviation turbine fuel (ATF) is expected to provide necessary support to the Indian oil giants.
Crude oil is a crucial resource for India, and the government imposes taxes on the super-normal profits of energy companies.