Government raises windfall tax on petroleum crude to Rs 9,600
Government increases windfall tax on petroleum crude: The government has announced an increase in windfall tax on petroleum crude to 9,600 rupees from 6,800 rupees per metric ton, i.e., by over 40 per cent with effect from April 16, Tuesday.
Government increases windfall tax on petroleum crude: The government has announced an increase in windfall tax on petroleum crude to 9,600 rupees from 6,800 rupees per metric ton, i.e., a raise by over 40 per cent with effect from April 16, Tuesday.
The tax, which is revised every fortnight, will remain unchanged at zero for diesel and aviation turbine fuel.
On April 4, the government raised the windfall tax on petroleum crude to 6,800 rupees a metric ton from 4,900 rupees.
The tax was initially introduced on crude oil producers and on exports of gasoline, diesel, and aviation fuel in July 2022 to regulate private refiners who wanted to sell fuel overseas instead of locally in a bid to gain from robust refining margins.
(with agency inputs)
Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 7 SIP Mutual Funds in 1 Year: What Rs 10,000, Rs 15,000, and Rs 20,000 SIPs have given in each fund
If you make RDs of Rs 5,000, Rs 10,000, Rs 15,000, and Rs 20,000 in post office, what will be your maturity amount?
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
Special Live Trading Session on Saturday: Know why BSE, NSE will remain open on May 18; check timings
Gold and Silver rate today (May 16, 2024): Yellow metal futures subdued; white metal hits record high breaches Rs 87,000 mark
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
08:20 AM IST