Union Budget 2023: FICCI recommends govt to end windfall profit tax on domestically produced crude oil
Zee Business Video Team | Updated: January 24, 2023 08:40 PM IST
India first imposed windfall profit taxes on July 1. As per FICCI, the windfall tax was over and above the heavy burden of royalty (20% of oil price for onshore fields and 10% for offshore areas) and oil industry development (OID) cess (20% of oil price)
