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India slashes windfall tax on domestic crude from Rs 12,200/ tn to Rs 9,050/ tn

The Finance Ministry of India has reduced the special additional excise duty (SAED) on crude petroleum to Rs 9,050/tonne, effective October 18. The windfall tax on domestically produced crude oil was previously fixed at Rs 12,100 per tonne. Additionally, the duty on diesel exports will be reduced from Rs 5 per litre to Rs 4 per litre, while the tariff on jet fuel will be lowered from Rs 2.5/litre to Rs 1/litre. ....

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Govt cuts windfall tax on petroleum crude, no change in duty on diesel and petrol

The government, which revises tax rates fortnightly based on oil price fluctuations, has made no change in the windfall tax on petrol, diesel, and aviation turbine fuel. ....

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OMC stocks in red after windfall tax cut; Adani Total dips 4%, BPCL, Indian Oil tumble. What to expect?

Sumit Singhania, Partner, Deloitte India said, withdrawal of windfall tax, except the reduced levy on diesel, is certainly a cheer for oil producing companies. ....

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Govt cuts windfall tax on crude oil, ATF, export of diesel

The new tax rates came into effect from 16 February.The levy is reviewed every fortnight and rates are moderated based on international oil prices ....

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