New Delhi: The Ministry of Petroleum & Natural Gas (MoPNG) has asked the finance ministry to withdraw windfall tax on petroleum products, broadcaster ET Now reported on Monday, citing sources.
The oil ministry has sought the withdrawal due to a reduction in crude prices, the report said.
The government had cut the windfall tax on petroleum crude to 4,600 rupees ($54.97) per metric ton from 7,000 rupees per metric ton from August 1.
Published 12 August 2024, 10:06 IST