Government to review additional excise duty imposition
News: According to Bloomberg, the Government of India is considering reducing the excise duty on petrol, diesel and ATF exports. Also, windfall tax levied on oil producers is likely to be reviewed.
Views: Crude oil prices have declined 10-11% in July. Also, refining margins have reduced from their multi-year high levels. Any reduction in excise duty on exports and windfall tax augurs well for refiners and oil producers, respectively.
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