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Centre Slashes Windfall Tax On Domestic Crude To Rs 3,500 Per Tonne

The Ministry of Finance on Monday late night revised the windfall tax on locally produced crude oil to Rs 3,500 per tonne from Rs 4,400 per tonne. There s also a marginal increase in the export duty on diesel, i.e., hiked from to Re 1 per litre from Rs 0.50. The taxes are reviewed every fortnight. The new rate would be applicable from 21 March 2023. aaa ....

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Centre Hikes Windfall Tax On Crude, Diesel Aviation Fuel Effective Today, January 3

On crude oil, the windfall tax has been raised from the existing Rs 1,700 per tonne to Rs 2,100 per tonne. On high-speed diesel for exports, the windfall tax has been raised from Rs 5 per litre to Rs 7.5 per litre. On aviation turbine fuel, the windfall tax has been raised from Rs 1.5 per litre to Rs 4.5 per litre. The revised tax rate is effective from January 3, 2023, according to Central Board of Indirect Taxes and Customs. ....

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