Tue, Jan 16, 2024
Windfall tax cut news India: Windfall tax on petroleum crude has been reduced to 1,700 rupees ($20.53) a tonne from 2,300 rupees a tonne, according to a government notification on Monday.
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Tue, Jan 02, 2024
Windfall tax on crude oil news: The government hiked the windfall tax on petroleum crude oil to 2,300 Indian rupees ($27.63) a ton from 1,300 rupees, it said.
Tue, Oct 31, 2023
SAED on the export of diesel was reduced to Rs 2 per litre from Rs 4 a litre and on jet fuel or ATF to nil from Rs 1, the notification said.
Mon, Oct 03, 2022
Decision will be taken to remove windfall gains tax only when crude oil comes down to $80. Deduction of windfall gain tax will be as per the prescribed formula. Next review will be on October 15 regarding this. Know full details from Tarun Sharma.
Sun, Oct 02, 2022
The government has slashed the windfall profit tax on locally-produced crude oil and diesel, in line with a fall in international rates, and scrapped the levy on the export of jet fuel, effective October 2, 2022.
Tue, Sep 20, 2022
Zee Business Top Picks 20th Sep'22: Government calls media report claiming ‘Oil Ministry seeks windfall tax review’ “MISLEADING”
Government has refuted media reports suggesting that oil ministry has sought a review on windfall tax. The Ministry of Petroleum & Natural Gas in a press release on Tuesday has called these reports “misleading”
Mon, Sep 19, 2022
Oil and gas stocks in focus Oil and gas stocks rose in a weak market on Monday after the government slashed windfall tax on domestic crude oil and exports of Aviation Turbine Fuel (ATF).
Mon, Sep 05, 2022
Addressing an event organized online, the minister said it is unfair to call windfall tax as ad hoc, because the tax rate and its resetting are done in complete consultations with the industry. "The very idea was implemented after taking the industry into full confidence," she said at a function organized by Elara Capital.
Sun, Aug 28, 2022
Diesel exports dropped to 2.18 million tonnes in July from 2.45 million tonnes a month back, data from the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC) showed.
Fri, Aug 19, 2022
The government raised the windfall profit tax on the export of diesel and brought back a tax on jet fuel exports, however, cut the levy on domestically produced crude oil in line with softening rates,
This is the third time when the government has reviewed windfall tax. Earlier this month, the government had scrapped the windfall profit tax on ATF exports.
Wed, Aug 03, 2022
India, which is the world`s third largest oil importer, on Aug 2 also raised the tax on domestically produced crude.
Wed, Jul 20, 2022
According to a Reuters report, India has cut a windfall tax on oil producers and refiners and exempted gasoline from an export levy, less than three weeks after it imposed the two charges.
Fri, Jul 15, 2022
The fall in the crude oil prices as well as the refining margin for diesel, petrol and aviation turbine fuel, raises the question whether the Indian government should continue with its windfall tax, said CLSA Ltd in a report.
Mon, Jul 04, 2022
After the government announced export restrictions and imposed additional excise duty on petroleum products, brokerages feel oil production may hit upstream companies by under-realization.
The impact of a windfall tax on Indian oil refining companies are likely to continue as the market couldn’t much understand the news properly on Friday, though on the face of it was looking negative, Zee Business Managing Editor Anil Singhvi said during a special edition of Editor’s Take.
How much more will Reliance fall due to windfall tax? Time for profit in Reliance is over? What will be the impact of windfall tax on the market? Know from Anil Singhvi.
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