Modi government reduced windfall profit tax on domestic crude oil to zero

New Delhi. The Modi government has reduced windfall profit tax on domestically produced crude oil to zero. Apart from this, the zero rate of this tax has been continued on the export of diesel and aviation fuel . The Modi government has reduced the Special Additional Excise Duty (SAED) on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) to Rs 4,100 per tonne, said an official order. The new rate is effective from Tuesday. This is the second time when an unexpected windfall has occurred for domestically produced oil.Profit tax has been reduced to zero. This levy was introduced