Nation

Centre hikes windfall tax by 39.39% for domestic crude oil

Name: Centre hikes windfall tax by 39.39% for domestic crude oil
Uploaded: 2024-03-01T11:37:21Z
Description: The central government hiked windfall tax on domestically produced crude oil. The tax was increased to Rs 4,600 per tonne from Rs 3,300 per tonne.The tax is levied in the form of Special Additional Excise Duty (SAED). Windfall tax has no immediate impact on pump prices of petrol and diesel as it is entirely borne by companies like ONGC, Oil India and Vedanta.

S Pranava Maheshwari

Updated:1st Mar, 2024 at 5:07 PM

Follow The New Indian Express channel on WhatsApp

Download the TNIE app to stay with us and follow the latest