The Central Board of Indirect Taxes and Customs (CBIC) has re-introduced the windfall tax on crude oil a fortnight after bringing it down to zero.
The new rate of ₹6,400 a tonne kicks in from Wednesday, a new order showed. The tax that is meant to mop up some of the super-profits that producers make during global price surges is revised on a fortnightly basis.
The Centre also lowered the special additional excise duty on export of diesel—50 paise a litre since 4 April -- to zero, showed a separate order. There is no windfall tax on export of petrol and jet fuel now. The decisions have been taken in public interest, the orders said.
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