Union government slashes windfall gains tax on domestic crude oil to zero | Details inside
1 year, 7 months ago

Union government slashes windfall gains tax on domestic crude oil to zero | Details inside

India TV News  

Windfall gains tax: The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF. Move comes after reduction in international oil prices The cut in windfall gains tax on domestically-produced crude oil follows the easing of international oil prices - from over USD 80 per barrel to under USD 75. The government's collection from the SAED, imposed on the production of crude oil and the export of petroleum products from July 1, 2022, is estimated at around Rs 40,000 crore in FY2023. India first imposed windfall profit taxes in July 2022 Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and aviation turbine fuel.

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History of this topic

Mint Quick Edit | Windfall tax is gone but other fuel taxes need reform
3 weeks ago

Mint Quick Edit | Windfall tax is gone but other fuel taxes need reform

Live Mint  

On Monday, India’s finance ministry did away with windfall tax on crude-oil products, petrol and diesel, ending a distortive imposition that had been put in place around mid-2022, soon after the Russia-Ukraine war sent oil prices soaring. This will relieve oil companies whose profit margins took a hit thanks to the Centre taking away a slice of their one-off profits …

Government scraps windfall tax on crude, petrol, diesel exports
Top News
3 weeks ago

Government scraps windfall tax on crude, petrol, diesel exports

Hindustan Times  

The government on Monday withdrew the nearly two-and-a-half-year-old windfall tax on domestically produced crude oil and exports of petrol, diesel and aviation turbine fuel, relenting to the industry’s demand after the value of petroleum product exports fell sharply because international oil prices plunged. The government had imposed the windfall tax on the petroleum sector from July 1, 2022 The department …

Govt scraps windfall tax on domestic crude, petrol and diesel exports
Trending News
3 weeks, 1 day ago

Govt scraps windfall tax on domestic crude, petrol and diesel exports

Hindustan Times  

NEW DELHI: The government on Monday withdrew windfall tax on domestically-produced crude oil and exports of petrol, diesel and aviation turbine fuel, relenting to the industry demand after international oil prices plunged. A technician opens a pressure gas valve inside the Oil and Natural Gas Corp group gathering station on the outskirts of the western Indian city of Ahmedabad The …

Govt scraps windfall tax on local crude sales, petroleum product exports
3 weeks, 1 day ago

Govt scraps windfall tax on local crude sales, petroleum product exports

Live Mint  

New Delhi: The Union government on Monday scrapped the windfall tax on the sale of domestic crude oil and the export oaviation turbine fuel. The windfall tax was imposed in 2022 as oil prices surged to multi-year highs following Russia's invasion of Ukraine, allowing oil and gas producing companies to make massive profits. Prashant Vasisht, senior vice president and co-group …

India scraps windfall tax on petrol-diesel exports, ATF 2 years after it was imposed
3 weeks, 1 day ago

India scraps windfall tax on petrol-diesel exports, ATF 2 years after it was imposed

Firstpost  

The Indian government has announced abolishing the windfall tax on aviation turbine fuel, crude oil, petrol, and diesel, effective immediately. The decision marks the end of a levy introduced on July 1, 2022 The Indian government Monday announced the scrapping of the windfall tax on crude products, aviation turbine fuel, petrol and diesel exports. After it was introduced in July …

India scraps windfall tax on petrol-diesel exports, ATF 2 years after it was imposed
3 weeks, 1 day ago

India scraps windfall tax on petrol-diesel exports, ATF 2 years after it was imposed

Firstpost  

The Indian government has announced abolishing the windfall tax on aviation turbine fuel, crude oil, petrol, and diesel, effective immediately. The Indian government Monday announced the scrapping of the windfall tax on crude products, aviation turbine fuel, petrol and diesel exports. After it was introduced in July 2022, the windfall tax was revised every 15 days based on international crude …

Government scraps windfall tax on petrol, diesel, and aviation fuel exports
Top News
3 weeks, 1 day ago

Government scraps windfall tax on petrol, diesel, and aviation fuel exports

Hindustan Times  

The government has scrapped windfall tax on Aviation Turbine Fuel, crude products, petrol and diesel products on Monday, December 2, 2024, after months of deliberations on the matter. Windfall tax is a special tax on domestic crude oil production which aims to capture revenue from the windfall gains of oil producers This will immediately bring bring relief to oil conglomerates …

India Likely to End Windfall Tax Review As Oil Prices Stabilise
3 weeks, 5 days ago

India Likely to End Windfall Tax Review As Oil Prices Stabilise

Deccan Chronicle  

New Delhi: The Union finance ministry is likely to discontinue the revision of windfall tax on the export of petrol, diesel and aviation turbine fuel or diesel as global crude oil prices have stabilised to some extent. The finance ministry in consultation with the oil ministry will take a call soon and will review the efficacy of windfall tax, a …

Finance Ministry Considers Scrapping Windfall Tax As Crude Prices Fall: Report
3 weeks, 5 days ago

Finance Ministry Considers Scrapping Windfall Tax As Crude Prices Fall: Report

ABP News  

The finance ministry is reportedly currently assessing the relevance of the windfall tax, according to a Reuters report citing sources from the federal government on Thursday. Introduced in July 2022, the windfall tax was a special levy on domestic crude oil production aimed at capturing revenue from windfall gains made by producers in response to rising global crude prices. According …

Finmin to review efficacy of windfall tax on crude oil and fuel exports
3 weeks, 5 days ago

Finmin to review efficacy of windfall tax on crude oil and fuel exports

Live Mint  

New Delhi, Nov 28 The Finance Ministry would review the efficacy of windfall tax on the export of petrol, diesel and Aviation Turbine Fuel as global crude oil prices have stabilised, sources said. Phenomenal profits made by some oil refiners on exporting fuel at the expense of domestic supplies had prompted the government to introduce an export tax on petrol, …

After a four-year run, windfall tax nears end of the road
1 month ago

After a four-year run, windfall tax nears end of the road

Live Mint  

New Delhi: The Centre has decided to scrap the windfall tax, a levy imposed on local production of crude oil and exports of petrol, diesel and jet fuel, at a time of subdued oil prices. Windfall tax was imposed in 2022, as a surge in oil prices to multi-year highs in the wake of the Russia-Ukraine war allowed oil and …

Windfall tax on crude petroleum slashed to zero by govt, effective from September 18
3 months, 1 week ago

Windfall tax on crude petroleum slashed to zero by govt, effective from September 18

India TV News  

In a move that may lead to lower fuel prices, the Indian government has reduced the windfall tax on domestically produced crude oil to zero, effective from September 18. OMCs may reduce fuel prices Petroleum Secretary Pankaj Jain had earlier hinted that oil marketing companies would consider reducing fuel prices if crude oil prices remained low for a prolonged period. …

India slashes windfall tax on domestic crude oil, removes export tax on diesel, aviation fuel
4 months, 3 weeks ago

India slashes windfall tax on domestic crude oil, removes export tax on diesel, aviation fuel

Firstpost  

Implemented in July 2022, the windfall tax aimed to curb private refiners’ preference for exporting fuel to capitalize on higher refining margins instead of domestic sales India has reduced the windfall tax on crude oil. Image used for representative purpose/Unsplash The central government has reduced the windfall tax on domestically produced crude oil to Rs 4,600 per tonne from the …

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today
7 months, 1 week ago

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today

Live Mint  

India has cut the windfall tax on petroleum crude to ₹5,700 per metric ton from ₹8,400 with effect from May 16, Reuters reported. Windfall Tax Movements The tax is revised every two weeks, and was similarly cut on May 1, only for petroleum crude to ₹8,400 a metric ton from ₹9,600. In April 2024, the windfall tax on petroleum crude …

Govt hikes windfall tax on domestic crude sales to ₹4,900 per tonne
9 months, 1 week ago

Govt hikes windfall tax on domestic crude sales to ₹4,900 per tonne

Live Mint  

The finance ministry on Friday raised the windfall tax on sale of domestic crude oil to ₹4,900 per tonne, effective 16 March. As of 14 March, the Indian crude basket, which comprises both sour grade and sweet grade crude oil processed in Indian refineries, was priced at $84.50 per barrel. The government first introduced windfall taxes on the sale of …

Government cuts windfall tax on petroleum crude effective tomorrow
1 year, 2 months ago

Government cuts windfall tax on petroleum crude effective tomorrow

Live Mint  

The Indian government announced late on Tuesday night a cut in windfall tax on petroleum crude, ATF and diesel. The government will also cut windfall tax on ATF from ₹3.50/litre to ₹1/litre, and on diesel from ₹5/litre to ₹4/litre. In the previous month, the finance ministry had raised the windfall tax on locally produced crude oil to ₹12,100 per tonne. …

Government raises windfall tax on crude oil to ₹12,100 per tonne
1 year, 2 months ago

Government raises windfall tax on crude oil to ₹12,100 per tonne

Live Mint  

The union finance ministry on Friday raised the windfall tax on locally produced crude oil to ₹12,100 per tonne. Centre first imposed the windfall taxes on the sale of locally produced crude oil with effect from July 1, 2022 as oil exploration and producing companies made heavy profits amid multi-year high crude oil prices post Russia’s invasion of Ukraine. The …

Windfall tax on crude oil hiked to ₹10,000 per tonne, ATF export reduced
1 year, 3 months ago

Windfall tax on crude oil hiked to ₹10,000 per tonne, ATF export reduced

Live Mint  

The government has hiked windfall tax on the sale of locally-produced crude oil from ₹6,700 to ₹10,000 per tonne, with effect from September 16. Centre first imposed the windfall taxes on the sale of locally produced crude oil with effect from July 1, 2022 as oil exploration and producing companies made heavy profits amid multi-year high crude oil prices post …

Centre cuts windfall tax on crude oil, hikes levy on export of diesel
1 year, 3 months ago

Centre cuts windfall tax on crude oil, hikes levy on export of diesel

Live Mint  

New Delhi: The finance ministry has reduced to windfall tax on the sale of locally-produced crude oil to ₹6,700 per tonne. Centre first imposed the windfall taxes on the sale of locally produced crude oil with effect from July 1, 2022 as oil exploration and producing companies made heavy profits amid multi-year high crude oil prices post Russia's invasion of …

Ministry Of Finance Increases Windfall Tax On Crude Oil, Diesel, and Aviation Turbine Fuel
1 year, 4 months ago

Ministry Of Finance Increases Windfall Tax On Crude Oil, Diesel, and Aviation Turbine Fuel

Live Law  

In a significant move, the Ministry of Finance has issued Notification No. 27/2023-Central Excise on August 14, 2023, announcing an upward revision of the windfall tax rates on domestically produced crude oil, diesel, and aviation turbine fuel. According to the notifications, the windfall tax on domestically produced crude oil is set to undergo a substantial increase. Furthermore, diesel's windfall tax …

Windfall tax on crude oil returns amid price surge
1 year, 8 months ago

Windfall tax on crude oil returns amid price surge

Live Mint  

New Delhi: The Central Board of Indirect Taxes and Customs has re-introduced the windfall tax on crude oil a fortnight after bringing it down to zero. Since India follows trade parity pricing of crude oil and petrol, producers of crude oil and refineries that sell finished products realise global prices in the local market. So windfall tax on profits of …

Centre cuts windfall tax on crude oil to zero, diesel halved
1 year, 8 months ago

Centre cuts windfall tax on crude oil to zero, diesel halved

Hindustan Times  

India cut its windfall tax on crude oil to zero from 3,500 rupees a tonne and halved the tax on diesel to 0.5 rupee per litre, a government notification said on Tuesday. India in July imposed a windfall tax on crude oil producers and on exports of gasoline, diesel and aviation fuel, to encourage private refiners to sell fuel products …

Centre cuts windfall tax on domestic crude oil to Rs3,500 per tonne
1 year, 9 months ago

Centre cuts windfall tax on domestic crude oil to Rs3,500 per tonne

Live Mint  

The union ministry of finance on Monday reduced the windfall tax on the locally-produced crude oil to ₹3,500 per tonne. The windfall profit tax was imposed last year after crude oil prices soared in the aftermath of the Russia-Ukraine war, fetching large profits for oil producers. Revenue secretary Sanjay Malhotra had told Mint in a post-budget interview on 4 February …

Windfall tax on diesel slashed to ₹0.50 per litre, nil on ATF
1 year, 9 months ago

Windfall tax on diesel slashed to ₹0.50 per litre, nil on ATF

The Hindu  

The government slashed windfall profit tax on export of diesel to its lowest of ₹0.50 per litre and nil on jet fuel while the levy on domestically produced crude oil was marginally increased, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation has hiked to ₹4,400 per tonne from …

Centre cuts windfall tax on crude, aviation turbine fuel and diesel: Report
1 year, 10 months ago

Centre cuts windfall tax on crude, aviation turbine fuel and diesel: Report

Hindustan Times  

India has cut its windfall tax on crude oil and exports of aviation turbine fuel and diesel, according to a government notification dated February 15. The cuts came as Indian refiners continued to stock up discounted Russian fuel amid a steady increase in domestic consumption. The government also cut export tax on aviation turbine fuel to 1.50 rupees per litre …

Windfall profit tax hiked on domestically produced crude oil
1 year, 10 months ago

Windfall profit tax hiked on domestically produced crude oil

Deccan Chronicle  

New Delhi: In line with international oil prices, the Centre has raised the windfall profit tax levied on domestically-produced crude oil as well as on the export of diesel and aviation turbine fuel. However, top officials said that the windfall profit tax on domestically produced crude oil and export of fuel will continue and is expected to give about Rs …

Windfall tax on aviation fuel slashed. Will air tickets be cheaper?
2 years ago

Windfall tax on aviation fuel slashed. Will air tickets be cheaper?

Hindustan Times  

Centre has slashed the windfall profit tax levied on domestically produced crude oil and on export of diesel and Aviation Turbine Fuel. Representative Image Revised Windfall tax rates Levy on crude oil produced by domestic companies- ₹1,700 per tonne from ₹4,900. On July 1, India started imposing the windfall tax on crude oil producers and levies on exports of gasoline, …

Centre cuts windfall tax on domestic crude oil
2 years ago

Centre cuts windfall tax on domestic crude oil

Deccan Chronicle  

New Delhi: The Centre has cut the windfall profit tax on domestically produced crude oil. According to the revised prices, the windfall tax on crude oil produced by firms such as the state-owned Oil and Natural Gas Corporation has been reduced to Rs 1,700/tonne from the previous Rs 4,900/tonne. The new levy also includes Rs 1.5 per litre as road …

Govt cuts windfall tax on locally produced crude, diesel exports
2 years ago

Govt cuts windfall tax on locally produced crude, diesel exports

Live Mint  

Centre has reduced the windfall tax on sale of domestic crude oil to ₹4,900 per tonne from the current tax of ₹10,200 crore. The cut in the windfall tax on locally produced crude oil comes at a time when oil prices have largely been subdued and below the $90 per barrel mark. The windfall taxes were first imposed on July …

Levy on oil and gas firms’ windfall profits expands to renewable energy
2 years, 1 month ago

Levy on oil and gas firms’ windfall profits expands to renewable energy

The Telegraph  

Energy producers have been targeted with taxes aimed at raising £54 billion by 2028 from what the Chancellor said were “windfall profits”. The new rate will take effect from Jan 1, taking oil and gas producers’ total tax rate to 75 per cent. Meanwhile, a new levy will also take effect from Jan 1 on low-carbon electricity generators, set at …

Govt cuts windfall profit tax on crude oil, hikes levy on export of diesel, ATF
2 years, 1 month ago

Govt cuts windfall profit tax on crude oil, hikes levy on export of diesel, ATF

Hindustan Times  

The government on Tuesday cut windfall tax on domestically produced crude oil while increasing the rate on export of diesel and jet fuel in line with rise in international oil prices. The tax on crude oil produced by firms such as state-owned Oil and Natural Gas Corporation, was cut to ₹9,500 per tonne from ₹11,000, beginning November 2, a government …

Centre increases windfall tax on crude oil output
2 years, 2 months ago

Centre increases windfall tax on crude oil output

Hindustan Times  

The government on Saturday raised the tax on windfall profits on locally produced crude oil by 37.5% to ₹11,000 per tonne and hiked the levy on diesel exports by 140% to ₹12 per litre, while reimposing it on exports of jet fuel at ₹3.50 per litre, as global oil prices surged this fortnight after the producers’ cartel – the Organisation …

Centre hikes tax on windfall profit on crude oil, export of diesel, jet fuel
2 years, 2 months ago

Centre hikes tax on windfall profit on crude oil, export of diesel, jet fuel

Hindustan Times  

The government on Saturday hiked windfall tax on domestically produced crude oil by more than a third while doubling the rate on export of diesel and re-introducing the levy on overseas shipment of jet fuel in line with rise in international oil prices. Centre hikes tax on windfall profit on crude oil, export of diesel, jet fuel The tax on …

Centre hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil
2 years, 2 months ago

Centre hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil

The Hindu  

The government on Saturday hiked the windfall profit tax on the export of diesel to ₹12 per litre and that on jet fuel exports to ₹3.50 a litre with effect from October 16. After lowering the tax rates for two consecutive fortnights mirroring fall in global crude prices, the Finance Ministry has brought about a hike in export taxes on …

Govt likely to levy windfall profit tax on domestic natural gas: Report
2 years, 2 months ago

Govt likely to levy windfall profit tax on domestic natural gas: Report

Live Mint  

The Union government may bring domestic natural gas under the ambit of windfall profit tax, as it explores various options to meet rising fuel, food and fertiliser subsidy bills, Hindustan Times has reported, citing two people aware of the development. As per the report, two industry experts working for gas producers said on anonymity that the idea to impose windfall …

Oil Ministry seeks review of windfall tax, wants certain fields exempted
2 years, 3 months ago

Oil Ministry seeks review of windfall tax, wants certain fields exempted

The Hindu  

The Oil Ministry has sought a review of the two-and-a-half-month old windfall profit tax on domestically-produced crude oil saying it goes against the principle of fiscal stability provided in contracts for finding and producing oil. According to Oil Ministry calculations, the letter said, the new levy in the case of PSC and RSC results in a situation where the operator …

Export tax on diesel, ATF raised; windfall levy on domestic oil production up
2 years, 3 months ago

Export tax on diesel, ATF raised; windfall levy on domestic oil production up

The Hindu  

The government on Thursday raised the tax on the export of diesel and jet fuel and hiked the windfall profit levy on domestically-produced crude oil in line with rising product margins and oil prices. At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to ₹13.5 per litre from ₹7 per litre. The …

Windfall profit tax on domestic crude, exports of diesel, jet fuel raised
2 years, 3 months ago

Windfall profit tax on domestic crude, exports of diesel, jet fuel raised

Hindustan Times  

The government has raised the windfall profit tax on domestically produced crude oil by ₹300 to ₹13,300 per tonne after a fourth fortnightly review. Exports of ATF will now attract ₹9 per litre windfall tax instead of ₹2 per litre that prevailed till August 31, according to the Union finance ministry’s order issued late Wednesday night. The Centre on July …

Centre Hikes Windfall Profit Tax on Export of Diesel, ATF; Increases Tax on Crude Oil
2 years, 3 months ago

Centre Hikes Windfall Profit Tax on Export of Diesel, ATF; Increases Tax on Crude Oil

News 18  

Windfall Profit Tax on Export of Diesel Hiked: The government recently has increased the windfall profit tax on the export of diesel to Rs 13.5 per litre and that on jet fuel exports to Rs 9 per litre. At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to Rs 13.5 per litre …

Govt. hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil
2 years, 3 months ago

Govt. hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil

The Hindu  

The government has hiked the windfall profit tax on the export of diesel to ₹13.5 per litre and on jet fuel exports to ₹9 a litre, besides raising the levy on domestically-produced crude oil in line with the hardening of global prices. At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to …

Centre cuts windfall tax on oil producers; hikes duty on ATF, diesel exports
2 years, 4 months ago

Centre cuts windfall tax on oil producers; hikes duty on ATF, diesel exports

Firstpost  

India first imposed windfall profit taxes on 1 July, joining a growing number of nations that taxes super normal profits of energy companies. But international oil prices have cooled since then, eroding the profit margins of both oil producers and refiners New Delhi: Windfall profit tax on local oil producers has been cut on expected lines but increasing the levy …

Govt Hikes Windfall Tax on Diesel, ATF Exports; Cuts Cess on Domestic Crude Oil
2 years, 4 months ago

Govt Hikes Windfall Tax on Diesel, ATF Exports; Cuts Cess on Domestic Crude Oil

News 18  

Windfall Tax on Diesel, ATF Exports Increased: The government has once again revised the newly-introduced windfall tax levied on crude oil, diesel and Aviation Turbine Fuel. According to a government notification issued on Thursday, the tax on domestically produced crude oil has been reduced to Rs 13,000 per tonne from Rs 17,750 per tonne, while export taxes on jet fuel …

Centre cuts windfall tax on diesel, ATF export; levy on domestic crude oil raised
2 years, 4 months ago

Centre cuts windfall tax on diesel, ATF export; levy on domestic crude oil raised

Firstpost  

The measures come hours after data showed that India’s trade deficit ballooned to a record high in July, as elevated commodity prices and a weak rupee inflated the country’s import bill New Delhi: The central government has halved the windfall tax on the export of diesel and scrapped the levy on jet fuel or Aviation Turbine Fuel shipments but raised …

Windfall tax on fuel export slashed; raised on domestic crude oil
2 years, 4 months ago

Windfall tax on fuel export slashed; raised on domestic crude oil

India TV News  

Highlights The tax on export of diesel was cut to Rs 5 per litre from Rs 11 The tax on jet fuel was scrapped Export of petrol will continue to attract nil tax Windfall tax on diesel and ATF was cut on Tuesday, while the government raised the duty on domestically produced crude oil. According to an official notification, the …

What is Windfall Tax and Why Has Govt Reduced it on Fuel Export, Domestic Crude Oil?
2 years, 5 months ago

What is Windfall Tax and Why Has Govt Reduced it on Fuel Export, Domestic Crude Oil?

News 18  

To provide relief to oil producers and refiners in the country, the Centre has reduced the recently implemented cesses and levies on diesel and aviation turbine fuel. Recent Cut in Windfall Taxes, Levies The Centre cut the windfall tax on diesel and aviation fuel shipments by Rs 2 per litre. On July 1, the central government slapped export duties on …

Centre slashes windfall tax on fuel: Reliance Industries shares climb over 4%, ONGC jumps 7%
2 years, 5 months ago

Centre slashes windfall tax on fuel: Reliance Industries shares climb over 4%, ONGC jumps 7%

Firstpost  

The government on Wednesday slashed the windfall tax on petrol, diesel, jet fuel and crude oil following a decline in international rates. It scrapped Rs 6 a litre tax on export of petrol and reduced the same on ATF from Rs 6 a litre to Rs 4 New Delhi: Shares of firms related to oil exploration and refineries were in …

RIL share price back above ₹2,500. Key triggers to watch now
2 years, 5 months ago

RIL share price back above ₹2,500. Key triggers to watch now

Live Mint  

Shares of Reliance Industries Ltd surged more than 2% to ₹2,501 apiece on the BSE in Wednesday's opening deals after the government cut windfall tax less than three weeks after they were imposed, offering relief fuel exporter RIL and top crude explorer Oil & Natural Gas Corporation of India, which rallied nearly 5%. “The relief announced by the government for …

Centre pares windfall tax on crude, scraps petrol exports levy
2 years, 5 months ago

Centre pares windfall tax on crude, scraps petrol exports levy

The Hindu  

With global oil prices ebbing, the Centre on Wednesday slashed the windfall tax levied on crude petroleum producers, reduced the export tax on Aviation Turbine Fuel and diesel and scrapped the duty on petrol exports. On July 1, the government had levied fresh taxes on the export of petrol, fuel and ATF as well as the domestic sale of crude …

RIL, ONGC Shares Surge As Govt Likely To Consider Lowering Windfall Tax on Petrol, Diesel
2 years, 5 months ago

RIL, ONGC Shares Surge As Govt Likely To Consider Lowering Windfall Tax on Petrol, Diesel

News 18  

Shares of Reliance Industries Limited and ONGC surged on Thursday after media reports that the government might lower the recently implemented windfall tax in a meeting on Friday. Bhavik Patel, senior commodity/currency research analyst at TradeBulls Securities, said: “The fall in crude oil prices from $126 to $94 in the span of 6 weeks has prompted the government to reconsider …

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