Centre hikes windfall tax on crude, diesel and jet fuel
Monday - August 14, 2023 12:55 pm ,
Category : BUSINESS
Centre hikes windfall tax on crude, diesel and jet fuel
The windfall tax on crude oil will increase from Rs 4,250 to Rs 7,100 per tonne, according to a gazette notification issued on Monday. It has also increased the levy on diesel from Rs 1 to Rs 5.50 per litre and on jet fuel from nil to Rs 2 per litre. The new rates will be applicable from August 15 onwards, the notification said. India had first imposed windfall profit taxes on July 1, 2022, joining a growing number of nations that tax the supernormal profits of energy companies. The government revises windfall tax imposition on a fortnightly basis. --IANSans/arm
(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)
