Windfall Tax: The central government has taken a big decision to reduce the domestic windfall tax. Along with this, the government has decided to reduce the duty on Air Turbine Fuel (ATF), Diesel Export and Crude Oil. According to the notification issued by the government, from Thursday, windfall profit tax on domestically produced crude oil of government oil companies like ONGC has now been increased to Rs 4350 per tonne. Earlier it was Rs 5050 per ton. On the other hand, talking about the export duty of petrol, the government has not made any change in it. All these changes have come into effect from today i.e. February 16, 2023.
