Tag: crude petroleum tax

Windfall tax on crude petroleum slashed to zero

September 17, 2024 admin

Representational file image. | Photo Credit: Reuters The government on Tuesday (September 17, 2024) slashed windfall tax on domestically produced crude oil to ‘nil’ per tonne with effect from September 18. The tax is levied in the form of special additional excise duty (SAED) and is notified fortnightly based on average oil prices in two…

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Windfall tax on crude petroleum reduced to ₹1,850 per tonne

August 31, 2024 admin

Representational image only. The government has cut the windfall tax on domestically-produced crude oil to ₹1,850 per tonne, from ₹2,100 per tonne with effect from Saturday (August 31, 2024.) The tax is levied in the form of Special Additional Excise Duty (SAED). The SAED on the export of diesel, petrol and jet fuel or ATF,…

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