Published 1 year ago

India slashes windfall tax on crude oil production to Rs 3,500 per tonne

Summary by Times of India

It also marginally increased export duty on diesel to Rs one per litre from Rs 0.50 while keeping both petrol and Aviation Turbine Fuel (ATF) exempted from the export levy. The new rate will be effective from March 21.

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Times of India

India slashes windfall tax on crude oil production to Rs 3,500 per tonne

1 year ago·India

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News18 India

Windfall Tax On Diesel Export Hiked, Levy On Domestically Produced Crude Oil Reduced

The government raised the tax on export of diesel to Re 1 per litre from Rs 0.50, and the same on overseas shipments of ATF remains at nil.

1 year ago·India

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ABP News

Windfall Gains Tax On Domestic Crude Oil Production Slashed To Rs 3,500 Per Tonne

The Centre has slashed windfall gains tax on domestic production of crude petroleum to Rs 3,500 per tonne from Rs 4400 per tonne, according to a ministry of finance notification on Monday. While the export duty on diesel has been marginally raised to Rs 1 per litre from Rs 0.50, the export levy on both petrol and Aviation Turbine Fuel (ATF) continues to be nil. The new rate will be effective from Tuesday onwards, reported the publication Economi…

1 year ago·India

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Business Standard

Windfall tax on crude oil slashed to Rs 3,500/tonne, duty on diesel hiked

Petrol and Aviation Turbine Fuel (ATF) have been exempted from the export levy

1 year ago·India

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Windfall Tax On Diesel Export Hiked To Rs 1 Per Litre

The government has hiked the windfall profit tax on exports of diesel to Rs 1 per litre, while the levy on domestically produced crude oil has been cut by a fifth, according to an official order.The levy on crude oil produced by companies such as Oil and Natural Gas Corporation has been reduced to Rs 3,500 per tonne from Rs 4,400 per tonne, the order dated March 20 said.The government raised the tax on exports of diesel to Rs 1 per litre from Rs…

1 year ago

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Business Today

Windfall gains tax on domestic crude oil production cut to Rs 3,500 per tonne

The central government had last hiked the windfall tax on the production of crude petroleum by Rs 50 per tonne from Rs 4,350 per tonne to Rs 4,400 per tonne on March 4.

1 year ago·India

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