Govt cuts windfall tax on petroleum crude

The Indian government on Friday slashed the windfall tax on petroleum crude to Rs 5,200 ($62.33) per metric ton from Rs 5,700, with effect from June 1. he tax, which is revised every fortnight, remains unchanged for diesel and aviation turbine fuel. On May 16, the Indian government had reduced the windfall tax on petroleum

Centre cuts windfall tax on crude oil

The finance ministry has reduced to windfall tax on the sale of locally-produced crude oil to Rs 6,700 per tonne. However, the ministry has raised the Special Additional Excise Duty (SAED) on the export of diesel to Rs 6 per litre from Rs 5.50 a litre. The levy on the export of aviation turbine fuel

India cuts windfall tax to zero

India cut windfall tax on petroleum crude to zero from Rs 4,100 per tonne with effect from May 16. The windfall tax on petrol, diesel and aviation turbine fuel (ATF) was left unchanged at zero. In early May, the govt had slashed windfall tax on domestically produced crude oil to ₹4,100 per tonne from ₹6,400

India cuts windfall tax on crude production to nil

India has cut all windfall tax on crude oil from 3,500 rupees ($42.56) per tonne. The windfall tax on diesel was cut to Rs 0.50 per litre from Rs 1 previously. As on April 4, only diesel carries a windfall tax while crude, ATF & petrol will not attract any such levies. India had in

Windfall tax on fossil fuels increased in India

India has raised windfall tax on petroleum, crude oil and aviation turbine fuel, according to a government order. It raised windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective Tuesday, the order said. The federal government also raised export tax on diesel to Rs 7.5 per litre from

Indian government revised windfall tax on Crude

The government has once again revised the newly-introduced windfall tax levied on crude, diesel and jet fuel (ATF). The tax on domestically produced crude oil has been raised to ₹17,750 ($226.14) per tonne from ₹17,000 per tonne, while export taxes on jet fuel has been cut to zero from ₹4 per litre. The excise duty

Indian Govt imposes windfall tax on domestic crude

The union government imposed a windfall tax on crude oil produced locally. The government also levied additional excise duty on exports of petrol, diesel and aviation turbine fuel (ATF) to temper domestic fuel retail prices and ensure availability. While a cess of $295.05 (₹23,250) per tonne has been imposed on crude oil, a special excise