According to data from the Petroleum Planning and Analysis Cell, India’s petroleum product exports increased slightly by 1.5% to 47.5 million tonnes between April and December, from 46.8 million tonnes during the same period. Motor spirit, pet coke, and fuel oil shipments were the main drivers of the increase in exports. However, shipments of petroleum…
The center reduced the windfall tax on domestically produced crude oil on Friday from Rs 5,200 per tonne to Rs 3,250 per tonne. Aviation turbine fuel (ATF) and petrol diesel will remain subject to no export duties. The Central Board of Indirect Taxes and Customs (CBIC) stated in a late-night notice on Friday that the…
The windfall tax on domestic crude oil output has been raised by the Union government from Rs. 6,700 per tonne to Rs. 10,000 per tonne. The price hike will take effect on September 16. The special additional excise tax (SAED) on aviation turbine fuel (ATF) has been reduced by the government from 4 to 3.50…
The windfall tax on all domestically produced crude oil was increased by the centre from zero to Rs 6,400 per tonne. Additionally, the government eliminated the SAED, which had been charged at a rate of 0.5 rupees per litre. For the continued export of petrol and ATF (aviation turbine fuel), windfall tax exemptions are granted….
In response to a question in the Rajya Sabha, Minister of State for Petroleum & Natural Gas Rameswar Teli stated that the Special Additional Excise Duty (SAED) collection for FY23 is estimated at a level of ₹25,000 crores from crude oil production, export of gasoline, diesel fuel, and aviation turbine fuel (ATF). The SAED, also…
The government on Thursday reduced the windfall tax on exports of domestically produced crude oil and diesel due to the decline in the price of oil globally. The windfall tax on locally produced crude oil has been reduced by Rs 1,700 per tonne from Rs 4,900 per tonne, according to a notice from the finance…
The government decreased the windfall tax on diesel exports on Wednesday while raising it on domestically produced crude oil. According to a government statement, the tax on crude oil produced by local companies, such as the state-owned Oil and Natural Gas Corporation (ONGC), was increased from Rs 9,500 per tonne to Rs 10,200 per tonne…
The government reduced the windfall tax on local crude oil exports on Tuesday from Rs 11,000 per tonne to Rs 9,500 per tonne. The windfall tax on aviation fuel exports (ATF) has, however, been raised from Rs 3.50 per litre to Rs 5 per litre. Diesel fuel now costs Rs. 13 per litre after an…
