<p>New Delhi: The government has reduced windfall tax on domestically-produced crude oil to Rs 3,250 per tonne from Rs 5,200, with effect from Saturday.</p>.<p>The tax is levied in the form of Special Additional Excise Duty (SAED). SAED on export of diesel, petrol and jet fuel or ATF, has been retained at 'nil'.</p>.RBI windfall dividend could help boost Govt capex by 25%: CII chief.<p>The new rates are effective from June 15, an official notification said.</p>.<p>India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.</p>.<p>The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.</p>
<p>New Delhi: The government has reduced windfall tax on domestically-produced crude oil to Rs 3,250 per tonne from Rs 5,200, with effect from Saturday.</p>.<p>The tax is levied in the form of Special Additional Excise Duty (SAED). SAED on export of diesel, petrol and jet fuel or ATF, has been retained at 'nil'.</p>.RBI windfall dividend could help boost Govt capex by 25%: CII chief.<p>The new rates are effective from June 15, an official notification said.</p>.<p>India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.</p>.<p>The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.</p>