FOLLOW US >

Blog

Centre Cuts Windfall Tax On Petroleum Crude, New Rates Effective From Today


India started the tax on crude oil producers in july 2022

New Delhi:

India has cut the windfall tax on petroleum crude to 5,700 rupees ($68.34) per metric ton from 8,400 rupees with effect from May 16, according to a notification issued on Wednesday.

The tax, which is revised every two weeks, remains unchanged at zero for diesel and aviation turbine fuel.

The government on May 1 cut the windfall tax on petroleum crude to 8,400 rupees a metric ton from 9,600 rupees.

India started the tax on crude oil producers and on exports of gasoline, diesel and aviation fuel in July 2022 to regulate private refiners who wanted to sell fuel overseas instead of locally in a bid to gain from robust refining margins.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

You need to enter your Consumer key and secret to display your recent X (Twitter) feed.
Set your categories menu in Header builder -> Mobile -> Mobile menu element -> Show/Hide -> Choose menu
Start typing to see posts you are looking for.
Shop
Wishlist
0 items Cart
My account