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Government scraps windfall tax on petrol, diesel, and ATF exports
The windfall tax was introduced in July 2022 when the Russia-Ukraine war and Western sanctions lead to surging crude oil prices, hugely profiting oil companies

Centre cuts windfall tax on crude oil to zero, diesel halved
The government intends to withdraw the windfall tax once global crude oil prices fall firmly below $70 a barrel.

Windfall tax on aviation fuel slashed. Will air tickets be cheaper?
There is a substantial cut in the Aviation Turbine Fuel (ATF) windfall tax, lowering it to ₹1.5 from ₹5. ATF makes up around 30-40% of the cost of running an airline in India, and a decrease in its prices will boost the profit margins of companies. But will this gain be transferred to the consumers too?

Windfall tax on crude, aviation fuel slashed
The move comes amid a 14% slump in global crude since November. India is the world's third largest consumer and importer of oil.

Govt considers windfall tax on oil and gas giants
The tax, which may be levied when oil prices, for instance, cross a certain level, will boost the government’s finances, and help fund efforts to protect vulnerable sections from rampant inflation.
