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The government has hiked windfall tax on domestically produced crude oil to ₹6,000 per tonne, from ₹3,250 per tonne, with effect from Tuesday, July 2, 2024. Explained | What is windfall tax and why are countries imposing it on the energy sector right now? The tax is levied in the form of Special Additional Excise…
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The new rates of windfall tax on domestically-produced crude oil are effective from June 1. File | Photo Credit: Reuters The government has reduced windfall tax on domestically-produced crude oil to ₹5,200 per tonne from ₹5,700 with effect from June 1. The tax is levied in the form of Special Additional Excise Duty (SAED). SAED…
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