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Windfall Tax

Petrol to be cheaper from September 18, Windfall tax on crude petroleum slashed to zero

Petrol to be cheaper from September 18, Windfall tax on crude petroleum slashed to zero

Wed, Sep 18, 2024

In a move that can ease burdern on common man's pocket in near future, the government on Tuesday slashed windfall tax on domestically produced crude oil to 'nil' per tonne with effect from September 18. The reduction could make petrol, diesel cheaper.

Windfall tax on crude petroleum slashed to zero

Windfall tax on crude petroleum slashed to zero

Wed, Sep 18, 2024

The last such revision took place effective August 31 when the windfall tax on crude petroleum was set at Rs 1,850 per tonne.

Windfall tax on crude petroleum reduced to Rs 1,850/tonne

Windfall tax on crude petroleum reduced to Rs 1,850/tonne

Sat, Aug 31, 2024

The tax is levied in the form of Special Additional Excise Duty (SAED).

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Windfall tax on crude petroleum reduced to Rs 2,100/tonne

Windfall tax on crude petroleum reduced to Rs 2,100/tonne

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).

Windfall tax on crude petroleum hiked to Rs 7,000/tonne

Windfall tax on crude petroleum hiked to Rs 7,000/tonne

Tue, Jul 16, 2024

The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at 'nil'.

Windfall tax on crude petroleum slashed to Rs 3,250/tonne

Windfall tax on crude petroleum slashed to Rs 3,250/tonne

Sat, Jun 15, 2024

Windfall Tax on Crude Oil: The government has reduced windfall tax on domestically-produced crude oil to Rs 3,250 per tonne from Rs 5,200, with effect from Saturday.

Windfall tax on crude petroleum cut to Rs 5,200/tonne

Windfall tax on crude petroleum cut to Rs 5,200/tonne

Sat, Jun 01, 2024

The tax is levied in the form of Special Additional Excise Duty (SAED).

ONGC, Oil India to get relief as Centre cuts windfall tax on crude oil

ONGC, Oil India to get relief as Centre cuts windfall tax on crude oil

Thu, May 16, 2024

The windfall tax was extended to exports of petrol, diesel and aviation fuel after private refineries started raking in big gains from overseas markets, instead of selling the fuels in the domestic market.

Govt slashes windfall tax on domestic crude to Rs 5,700/tonne

Govt slashes windfall tax on domestic crude to Rs 5,700/tonne

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.

Windfall tax news: Government cuts windfall tax on crude petroleum

Windfall tax news: Government cuts windfall tax on crude petroleum

Wed, May 01, 2024

Windfall tax news, Windfall tax cut on crude oil: The government has trimmed windfall tax on domestically produced crude oil to Rs 8,400 per tonne from Rs 9,600 per tonne with effect from today, May 1. Windfall tax which is revised every fortnight is levied in the form of Special Additional Excise Duty (SAED).

Indian Government Increases Windfall Tax on Petroleum Crude to Rs 9,600 Per Tonne

Indian Government Increases Windfall Tax on Petroleum Crude to Rs 9,600 Per Tonne

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.

Government raises windfall tax on petroleum crude to Rs 9,600

Government raises windfall tax on petroleum crude to Rs 9,600

Tue, Apr 16, 2024

Government increases windfall tax on petroleum crude: The government has announced an increase in windfall tax on petroleum crude to 9,600 rupees from 6,800 rupees per metric ton, i.e., by over 40 per cent with effect from April 16, Tuesday.

ONGC, Oil India, MRPL and Chennai Petro slip as government increases windfall tax on domestically produced crude

ONGC, Oil India, MRPL and Chennai Petro slip as government increases windfall tax on domestically produced crude

Thu, Apr 04, 2024

Windfall tax on crude: The petroleum ministry on Wednesday raised the windfall tax on domestically produced crude to Rs 6,800 per tonne from Rs 4,900 per tonne. However, the windfall tax remains zero for diesel and aviation turbine fuel (ATF). It is the fifth raise in windfall tax by the government since February.

Centre hikes windfall tax on domestically-produced crude oil

Centre hikes windfall tax on domestically-produced crude oil

Thu, Apr 04, 2024

Windfall tax hike news: The government on Wednesday raised its windfall tax on domestically-produced petroleum crude to Rs 6,800 per tonne from Rs 4,900 per tonne, with effect from April 4.

Government hikes windfall tax on petroleum crude

Government hikes windfall tax on petroleum crude

Fri, Mar 01, 2024

Windfall tax hike news: The government hiked its windfall tax on petroleum crude to 4,600 rupees a metric ton from 3,300 rupees with effect from March 1, according to a government order released on Thursday.

Centre to increase windfall taxes on crude petroleum and diesel

Centre to increase windfall taxes on crude petroleum and diesel

Thu, Feb 15, 2024

On July 1, 2022, India introduced windfall profit taxes, joining a number of other countries that put taxes on energy firms' supernormal earnings.

Government cuts windfall tax on petroleum crude

Government cuts windfall tax on petroleum crude

Tue, Jan 16, 2024

Windfall tax cut news India: Windfall tax on petroleum crude has been reduced to 1,700 rupees ($20.53) a tonne from 2,300 rupees a tonne, according to a government notification on Monday.

Government hikes windfall tax on crude oil

Government hikes windfall tax on crude oil

Tue, Jan 02, 2024

Windfall tax on crude oil news: The government hiked the windfall tax on petroleum crude oil to 2,300 Indian rupees ($27.63) a ton from 1,300 rupees, it said.

Govt hikes windfall profit tax on crude oil, cuts levy on diesel exports

Govt hikes windfall profit tax on crude oil, cuts levy on diesel exports

Tue, Oct 31, 2023

SAED on the export of diesel was reduced to Rs 2 per litre from Rs 4 a litre and on jet fuel or ATF to nil from Rs 1, the notification said.

Government increases windfall tax on domestic crude to Rs 12,100 per tonne, cuts levy on diesel & ATF

Government increases windfall tax on domestic crude to Rs 12,100 per tonne, cuts levy on diesel & ATF

Fri, Sep 29, 2023

The government hiked special additional excise duty (SAED) on crude petroleum to Rs 12,100 per tonne with effect from September 30. In the last fortnightly review on September 15, windfall tax on domestically produced crude oil was set at Rs 10,000 per tonne.

Govt hikes windfall tax on domestic crude, cuts levy on export of diesel, jet fuel

Govt hikes windfall tax on domestic crude, cuts levy on export of diesel, jet fuel

Sat, Sep 16, 2023

The government hiked special additional excise duty (SAED) on crude petroleum to Rs 10,000 per tonne with effect from September 16.

Windfall tax reduced on domestically-produced crude oil; levy increased on diesel, jet fuel

Windfall tax reduced on domestically-produced crude oil; levy increased on diesel, jet fuel

Sat, Sep 02, 2023

The Centre had earlier raised the windfall tax on petroleum crude to Rs 7,100 per tonne from Rs 4,250 per tonne.

Windfall tax on crude oil, diesel hiked

Windfall tax on crude oil, diesel hiked

Tue, Aug 15, 2023

The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.

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