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Windfall Tax News

12 Sep 2024

Petrol, Diesel May Become Cheaper? Petroleum Secy Hints At Good News

The Petroleum Secretary also said that government is mulling removal of windfall tax, stating that India's oil ministry is in talks with the finance ministry regarding the same.

01 May 2024

Govt Cuts Windfall Tax On Crude Oil, ONGC, OIL India Ltd To Gain

Upstream oil exploration and production companies ONGC and Oil India Ltd stand to gain as they will have to pay a lower tax on their crude.

01 Oct 2023

Higher Windfall Tax On Crude Oil Kicks In As Prices Soar To $95 Barrel

The tax helps the government to raise more resources to subsidise the prices of LPG and CNG for consumers.

15 Aug 2023

Windfall Tax On Crude, Diesel, Jet Fuel Hiked; New Rates Applicable From Today

India had first imposed windfall profit taxes on July 1, 2022, joining a growing number of nations that tax the supernormal profits of energy companies.

01 Aug 2023

Higher Rates On Windfall Tax On Crude Petroleum, Diesel Applicable From Today

Government revises windfall tax on these commodities on a fortnightly basis.

04 Apr 2023

Windfall Tax On Domestic Crude Oil Cut To Zero, On Export Of Diesel Halved

Alongside, the government cut the tax on the export of diesel to Rs 0.50 per litre from Re 1.

21 Mar 2023

Windfall Tax On Diesel Export Hiked To Re 1 Per Litre

The government raised the tax on the export of diesel to Re 1 per litre from Rs 0.50.

16 Dec 2022

Govt cut Windfall profit tax on crude oil & diesel; Will fuel rates come down?

The order is dated December 15. The new tax rates are effective from today, December 16. India first imposed windfall profit taxes on July 1.

19 Aug 2022

Windfall tax cut on oil producers expected

At the third fortnightly review, the government has increased the windfall profit tax on the export of diesel to Rs 7 per litre from Rs 5 a litre and brought a Rs 2 a litre tax on ATF exports.

01 Jul 2022

Export tax imposed on crude to check profits made at expense of supplies: FM

Windfall tax records will be reviewed every fortnight India is facing difficulty in getting crude oil from abroad at an affordable price Rs 23,250 per tonne tax was levied on crude oil produced domestically

24 May 2018

Government may levy windfall oil tax on ONGC to soften fuel prices

The tax, which may come in form of a cess, will kick in the moment oil prices cross USD 70 per barrel, sources privy to the development said.

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