Rajasthan Headlines
Buisness

India eliminates the windfall tax on crude oil

According to a government statement, India has reduced the windfall tax on petroleum oil from 4,100 rupees ($50.13) per tonne to zero beginning May 16.
It maintained the zero windfall tax rate on gasoline, diesel, and aviation turbine fuel (ATF).
The tax on petroleum oil was reduced on May 1 from 6,400 rupees per tonne to 4,100 rupees per tonne.
India implemented the windfall tax on crude oil producers in July and increased the tax on the exports of gasoline, diesel, and ATF in response to private refiners looking to profit from strong refining margins in foreign markets.

Related posts

Adani Group Stocks Rise By 15%; Understand Why. Adani Green, Adani Enterprises, Adani Power

Check Prices, Features, Mileage, Colors, And Availability For The New TVS Apache RTR 310 Here

What We Know About Apple iOS 18’s Potential VisionOS-Like UI Design

Sia, the vocalist of “Cheap Thrills,” collaborates with Diljit Dosanjh on the fusion song “Hass Hass”

Wi-Fi 6E Is Likely To Arrive With The Apple iPhone 15 Pro: Everything You Should Know

If you disable Watch History, YouTube will stop recommending videos to you: how it works