The Indian government has repealed the Special Additional Excise Duty (windfall tax) on the domestic production of crude oil (petroleum) and the export of diesel, petrol, and aviation turbine fuel. The windfall tax was introduced in July 2022 to address excessive profits during periods of high prices but may no longer be needed considering current oil prices. India's Central Board of Indirect Tax and Customs (CBITC) issued Notification 29/2024 on 2 December 2024, which repeals the earlier no…