The Indian government has once again raised the windfall tax on petroleum crude oil, this time to Rs 3,300 (USD 39.76) per metric ton, effective from 16 February 2024. This marks the second increase in two weeks, following a previous hike from Rs 1,700 to Rs 3,200 on 3 February 2024. Additionally, the government reintroduced […]
India raised the windfall tax on petroleum oil to Rs 3,200 per tonne on Saturday, a considerable increase from the previous rate of Rs 1,700. Furthermore, the windfall tax on diesel and aviation turbine fuel remains unchanged, at zero, as stated by the government late last Friday. This development follows a preceding decision on 16 […]
India cut the windfall tax on diesel and crude oil on Thursday, according to a government notification. The government cut the windfall tax on crude oil to Rs 6,300 a tonne from 9,800 rupees a tonne while cutting the diesel windfall tax to 1 rupee per litre from Rs 2 per litre, the notification said. […]
In a significant development meant to provide relief to consumers and companies, the government has announced a cut in windfall taxes on important petroleum products, including crude oil, aviation turbine fuel (ATF), and diesel. The country’s fiscal policy will alter with the implementation of these tax cuts tomorrow. The windfall tax on petroleum crude would […]
The central government has withdrawn all windfall tax on crude oil with immediate effect, according to a government notification. This comes at a time when global crude oil prices rose after the group of oil-producing countries decided to cut output come May this year. The Organisation of the Petroleum Exporting Countries (OPEC) Plus oil producers […]
