The windfall tax on petrol, diesel and aviation turbine fuel (ATF) go, it was left unchanged to zero
Windfall Profit Tax: The levy on crude oil produced by companies like the Oil and Natural Gas Corporation (ONGC) has been reduced to Rs 4,350 per tonne from the current Rs 5,050 per tonne
Revenue from operations was up 41 per cent at Rs 19,214.2 crore
Windfall Tax: Despite this cut in windfall profit tax, the export duty exemption for petrol, diesel and aviation turbine fuel continues
The government has also hiked the tax on export of diesel to Rs 7.5 per litre from Rs 5, and the same on overseas shipments of ATF to Rs 6 a litre from Rs 3.5 a litre
Windfall Profit Tax: After a gap of two weeks, as per the revised rates, the windfall tax on crude oil has been slashed to Rs 1,900 per tone from the previous Rs 2,100 per tonne
Windfall Tax: The reduction in this amount on domestically produced crude oil also comes in the backdrop of a reduction in global crude oil prices
Windfall Profit Tax: The hike comes at a time when the government, in its previous notification, slashed the windfall tax to Rs 1,700 per tonne on domestically produced crude oil.
The profit declined due to the unique scenario of input commodity inflation and lower output commodity prices as also high energy costs, company chief...
At the fifth fortnightly review, the government reduced tax on domestically-produced crude oil to Rs 10,500 per tonne from Rs 13,300 per tonne
Earlier this month, the government had scrapped the windfall profit tax on ATF (Aviation Turbine Fuel) exports