Business

Government Raises Windfall Tax On Domestic Crude, Lower Charges Diesel, ATF Exports

On Friday, the government raised the special additional excise duty (SAED) on crude petroleum to Rs 10,000 per tonne, effective September 16, 2023.

The windfall tax on domestically produced crude oil was set at Rs 6,700/tonne in the last fortnightly review on September 1, 2023.

Furthermore, the SAED, or duty on the diesel export, would be reduced to Rs 5.50/litre from Rs 6/litre currently.

The levy on jet fuel or ATF will be decreased to Rs 3.5/litre on Saturday, down from Rs 4/litre currently.

SAED on petrol will remain zero.

On July 1, 2022, India enacted the first windfall profit taxes.

Also read: Redington Ltd To Provide The Latest Models Of iPhones, Apple Watches Across India

Spriha Rai

Recent Posts

Sanskriti Diwas Marks 98th Birth Anniversary Of Kashiraj Dr Vibhuti Narayan Singh

Program coordinator Chakravarti Vijay Navad announced that 11 prominent individuals received the Kashiraj Dr. Vibhuti…

24 mins ago

Mallikarjun Kharge Slams ‘Batenge Toh Katenge’ Slogan During Jharkhand Campaign

Kharge emphasized that the BJP leaders promote divisive rhetoric as part of their agenda. He…

2 hours ago

Police Arrest Two In Fake Marriage Certificate Racket In Name Of Arya Samaj

DCP Nagar Abhishek Bharti revealed that five couples, including Shivani and Shrikant Yadav, recently filed…

2 hours ago

India And Nigeria Strengthen Counter-Terrorism Cooperation In Second Strategic Dialogue

Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…

3 hours ago

Ola Electric’s Share Hits All-Time Low Of Rs 74 Ahead Of Q2 Results

Analysts predict that the stock could drop closer to the Rs 70 mark. Ola Electric…

4 hours ago

US Election: Voting Begins With First Ballots Cast In New Hampshire

This election is one of the most divisive in US history. Harris and Trump have…

4 hours ago