BUSINESS

Centre hikes windfall tax on petroleum crude beginning today

The windfall tax on petrol and aviation turbine fuel has been left unchanged.

The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from Aug. 1.

Read More: Gold Rate Rises Today In India: Check Latest 22 Carat Price In Your City On August 1

A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday.

The windfall tax on petrol and aviation turbine fuel has been left unchanged.

Earlier this month, the government raised the windfall tax on petroleum crude to 1,600 Indian rupees per tonne from zero.

Read More: Reliance Industries, Brookfield To Explore Renewable Energy Opportunities In Australia

India last July imposed the windfall tax on crude oil producers and extended the levy on exports of gasoline, diesel and aviation fuel after private refiners wanted to make gains from robust refining margins in overseas markets, instead of selling at home.

Source :
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top