According to data from the Petroleum Planning and Analysis Cell, due to increased consumption, especially by the city gas distribution companies and the power sector, India’s natural gas import bill increased by 17% to $8.9 billion during the first seven months of the current fiscal year from $7.6 billion during the same period last year….
The Centre has reduced the windfall tax on domestically produced crude from Rs 9,600 per tonne to Rs 8,400 per tonne, effective immediately. The windfall tax remains unchanged at nil for diesel and aviation fuel turbines. Earlier on April 16, the government had increased the windfall tax from Rs 6,800 to Rs 9,600 per tonne….
A government decree issued on Thursday states that, as of March 1, the windfall tax on petroleum crude has increased from Rs 3,300 to Rs 4,600 ($55.51) per metric tonne. With effect from March 1, the decree said that the Centre also reduced the windfall tax on diesel from 1.50 per litre to zero. Petrol…
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…
In contrast to the increase in the tax on diesel and ATF exports, the government has reduced the windfall profit tax on domestically produced crude oil. The special additional excise duty, or SAED, paid on domestically produced crude oil was decreased from Rs 7,100 per tonne to Rs 6,700 per tonne. According to the announcement,…
In addition to raising the windfall profit tax on domestically produced crude oil and diesel exports, the government has also reinstated the tax on international shipments of ATF. An official statement states that the tax on locally produced crude oil, which takes the form of a special supplementary excise charge, has increased from Rs 4,250…
With effect from this Wednesday, the government has reinstated the windfall tax on domestically produced crude oil with an impost of Rs 6,400 per tonne and eliminated the tax on diesel exports. Petrol and aviation turbine fuel intended for exports are still free from tax. In its most recent fortnightly review, the Central Board of…
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….
The tax on domestic crude oil has been entirely eliminated thanks to a change in the windfall tax that was announced on Tuesday. The tax has now been lowered to zero from roughly a fortnight ago when it was 3,500 per tonne. This comes after a steep 20% drop in global crude oil prices since…
The windfall duty on domestically produced crude oil has been eliminated by the Finance Ministry, while it has been decreased for diesel. The new levy went into effect on April 4. Despite the fact that the tax has been decreased due to a drop in prices over the past month, this week’s output cuts by…
