Sat, Aug 17, 2024
The government has slashed windfall tax on domestically produced crude oil to Rs 2,100 per tonne, from Rs 4,600 per tonne with effect from Saturday. The tax is levied in the form of Special Additional Excise Duty (SAED).
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Thu, May 16, 2024
India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.
Tue, Apr 16, 2024
The Indian government has increased the windfall tax on petroleum crude from Rs 6,800 to Rs 9,600 per metric ton, effective April 16. This decision comes as part of the government's fortnightly tax revision, aimed at regulating the export of fuel by private refiners. While diesel and aviation turbine fuel remain exempt from the windfall tax, the recent adjustments signify efforts to balance domestic market supply and curb excessive exports.
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