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India cuts windfall tax on crude petroleum, diesel and ATF

New Delhi: The central government has taken a big decision to reduce the domestic windfall tax. Along with this, the government has also decided to reduce the additional 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 crude oil produced domestically by government oil companies like ONGC has now been increased to Rs 4350