Government raises windfall tax on crude oil, diesel export tax reduced

February 29, 2024
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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The government has increased the windfall tax on domestically produced crude oil to Rs 4,600 per tonne from Rs 3,300 per tonne, effective from Friday. The Special Additional Excise Duty (SAED) on diesel exports has been reduced to zero from Rs 1.50 per litre. The tax rates came into effect on March 1st and are part of India’s effort to tax supernormal profits of energy companies.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

Government raises windfall tax on crude oil, diesel export tax reduced

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