The Ministry of Finance has raised the windfall tax on domestically produced crude oil to Rs 4,250 per tonne from Rs 1,600 per tonne.
The levy on exports of diesel will also increase from nil to Rs 1 per litre, according to a gazette notification.
The new tax rates will take effect on Aug. 1, the notification said.
In May, the government cut the windfall tax on crude oil produced by companies such as Oil and Natural Gas Corp. Ltd. to nil from Rs 4,100 per tonne. It was later raised to Rs 1,600 per tonne on July 14.
India first imposed windfall profit taxes on July 1 last year, joining a growing number of nations that tax the supernormal profits of energy companies.
At the time, export duties of Rs 6 per litre, or $12 per barrel, were levied on petrol and ATF and Rs 13 per litre, or $26 per barrel, on diesel.
A windfall profit tax of Rs 23,250 per tonne, or $40 per barrel, on domestic crude production was also levied.
The export tax on petrol was scrapped in the very first review, and that on aviation turbine fuel, or ATF, was done away with on March 4.
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