PREVIOUS
✖
Windfall tax on crude
August 21 , 2023
332 days
361
0
- The government has hiked the windfall profit tax on crude oil produced in the country and on export of diesel.
- Special additional excise duty on domestically produced crude oil has been raised to ₹7,100 per tonne from ₹4,250 per tonne.
- India first imposed windfall profit taxes on July 1st last year.
- A windfall tax is a special tax imposed by governments on companies that generate unusually high profits due to favourable market conditions or exceptional circumstances.
Leave a Reply
Your Comment is awaiting moderation.