NEW DELHI: The authorities has lower windfall tax on domestically-produced crude oil to Rs 1,850 per tonne, from Rs 2,100 per tonne with impact from Saturday. The tax is levied within the type of Special Additional Excise Duty (SAED). The SAED on the export of diesel, petrol and jet gas or ATF, has been retained at ‘nil’.
The new charges are efficient from August 31, 2024, an official notification issued late Friday stated.
India first imposed windfall revenue taxes on July 1, 2022, becoming a member of a number of countries that tax supernormal earnings of power firms. The tax charges are reviewed each fortnight primarily based on common oil costs within the earlier two weeks.
The new charges are efficient from August 31, 2024, an official notification issued late Friday stated.
India first imposed windfall revenue taxes on July 1, 2022, becoming a member of a number of countries that tax supernormal earnings of power firms. The tax charges are reviewed each fortnight primarily based on common oil costs within the earlier two weeks.
