Windfall tax on domestic crude oil cut, scrapped on ATF

The central government has cut the windfall tax on domestically produced crude oil to Rs.8,000 per tonne from Rs.10,500 per tonne, in line with decline in international oil prices. In addition, levy on diesel export has been reduced to Rs.5 per litre from Rs.10 per litre and export tax on aviation turbine fuel (ATF) has been scrapped.