08-01-2023 09:21 AM | Source: Reuters
India raises windfall tax on petroleum crude
The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from Aug. 1.
A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday.
The windfall tax on petrol and aviation turbine fuel has been left unchanged.
Earlier this month, the government raised the windfall tax on petroleum crude to 1,600 Indian rupees per tonne from zero.
India last July imposed the windfall tax on crude oil producers and extended the levy on exports of gasoline, diesel and aviation fuel after private refiners wanted to make gains from robust refining margins in overseas markets, instead of selling at home.
Latest News
Evening Roundup : A Daily Report on Bullion Energy &...
ITI AMC announces activation of new OPA
India's Blue Star posts jump in Q4 adjusted profit o...
Gautam Adani meets new British envoy to India, wishe...
FIIs stood as net buyers in equities as per May 02 d...
NPCI partners Bank of Namibia to develop UPI-like pa...
Report on power sector equity raises to power up to ...
Motilal Oswal Flexicap Fund Celebrates a Decade of H...
Buy Zinc above 258.50 SL below 256.50tct 261/262 - A...
Blue Star`s FY24 Total Income rises 21.4% to Rs 9685...