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

India Pavilion Shines At Davos 2025: States Seek Global Investment In Key Sectors

The India Pavilion at the 55th World Economic Forum (WEF) annual meeting in Davos, Switzerland,…

2 mins ago

Celebration Of Democracy And Indianness: A Platform For Unity And Progress

The “Jashn-e-Jamhuriyat” program, organized by the Muslim Rashtriya Manch (MRM) at the Aiwan-e-Ghalib Auditorium in…

36 mins ago

Maharashtra: 11 Killed, Several Injured As Passengers Flee Pushpak Express, Struck By Karnataka Express In Jalgaon

Reports indicate that passengers aboard the Pushpak Express noticed sparks while the train was braking.…

1 hour ago

Beti Bachao Beti Padhao Celebrates 10 Years Of Empowering Women And Girls

India celebrated the 10th anniversary of the Beti Bachao Beti Padhao (BBBP) Abhiyaan, a campaign…

2 hours ago

India Triumphs In Inaugural Kho Kho World Cup; Leaves Global Participants In Awe

The first-ever Kho Kho World Cup concluded in New Delhi with both Indian Men's and…

2 hours ago

Manipur: Lone JDU MLA Withdraws Support From BJP Government, Party Expels Him

Nitish Kumar-led Janata Dal (United) (JDU) has withdrawn its support from the N Biren Singh-led…

2 hours ago