Published 2 years ago

India to drop windfall tax if oil prices fall $40 a barrel

Summary by Ground News

India will only withdraw its windfall tax if global prices of crude fall as much as $40 a barrel from present levels. Tax on firms that have increased product exports to gain from higher overseas margins took effect on July 1. The taxes, and some accompanying export curbs, will hit the earnings of companies such as Reliance Industries.

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Times of India

India to drop windfall tax if oil prices fall $40 a barrel: Report

India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels, revenue secretary Tarun Bajaj told Reuters on Monday.

2 years ago·India

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News18 India

India to Drop Windfall Tax if Oil Prices Fall $40 a Barrel, Says Revenue Secretary Tarun Bajaj

India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels, Revenue Secretary Tarun Bajaj said on Monday.

2 years ago·India

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Reuters

India to drop windfall tax if oil prices fall $40 a barrel

2 years ago·United Kingdom

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Financial Post

India to drop windfall tax if oil prices fall $40 a barrel

NEW DELHI -- India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels, Revenue Secretary Tarun Bajaj told Reuters on Monday. Read More

2 years ago·Canada

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Arab News

India In-Focus — Shares slip; India to drop windfall tax if oil prices fall $40 a barrel

MUMBAI: Indian shares began the week on a tepid note on Monday, dragged by metal stocks due to demand worries and weaker sentiment in global markets. The NSE Nifty 50 index was down 0.3 percent at 15,704, while the S&P BSE Sensex was unchanged at 52,930.86. The indexes rose about 0.3 percent each last week. India to drop windfall tax if oil prices fall $40 a barrel India will only withdraw its windfall tax introduced last week for oil producers …

2 years ago·Riyadh, Saudi Arabia

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India Today

Centre to drop windfall tax if international oil prices fall $40 a barrel

"The taxation would be reviewed every 15 days," Bajaj said, adding that it would depend on international crude prices. "If crude prices fall, then windfall gains will cease and windfall taxes would also be removed."

2 years ago·India

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