On July 1, India had imposed the windfall tax on oil producers and refiners who boosted product exports to gain from higher overseas margins. 
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On July 1, India had imposed the windfall tax on oil producers and refiners who boosted product exports to gain from higher overseas margins. India has cut a windfall tax on diesel and aviation fuel shipments by 2 rupees a liter, according to a government notification.
New Delhi also cut the tax on domestically produced crude to 17,000 rupees a tonne, effective July 20.
On July 1, India had imposed the windfall tax on oil producers and refiners who boosted product exports to gain from higher overseas margins.
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