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.

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.

Centre hikes windfall tax by 39.39% for domestic crude oil

Also Read

$100K 'hit job' and up to 40 years in jail: Inside Indian national’s alleged role in Pannun murder plot

'Piyush Goyal ji..dont lie': Rahul vs Commerce Minister over Congress leader's meeting with farmers

Ladakh leaders reject MHA proposal of Territorial Council for UT

Shillong-bound IndiGo flight placed in isolation bay in Kolkata airport after bomb threat

Parl Panel seeks recalibration of tourism strategy; suggests knowledge-driven cultural engagement