windfall tax

Windfall Tax On Petrol-Diesel Exports, ATF Scrapped By India After Two Years

02 Dec 2024

The Indian government announced on Monday the removal of the windfall tax on crude products, aviation turbine fuel (ATF), and the export of petrol and diesel. The change, which took immediate effect, is being hailed as a significant relief for oil producers and refiners in the country. According to a...

Windfall Tax Reduced On Petroleum Crude As Big Relief

01 May 2024

The decrease of the windfall tax on crude petroleum has been announced by the central government in a notification. According to the announcement, the special additional excise tax (SAED) on crude oil has been reduced from Rs 9,600 to Rs 8,400 per tonne. While the taxes on gasoline, diesel, and...

India cuts all windfall tax onc

04 Apr 2023

According to a government notification, the federal government has withdrawn all windfall taxes on crude oil with immediate effect. This comes as global crude oil prices rose after a group of oil-producing nations agreed to cut production in May this year. Oil producers in the Organization of Petroleum Exporting Countries...