The central government has hiked the windfall tax on crude petroleum on Monday. The special additional excise duty on crude petroleum has been hiked from Rs 3,250 per tonne to Rs 6,000 per tonne, according to a gazette notification. The government had last hiked the windfall tax on April 30, 2024.
The new tax rates will take effect from July 2, it said. The taxes on diesel, petrol and aviation turbine fuel will continue to remain nil.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Every two weeks, the tax rates are reviewed based on the average oil prices from the previous two weeks.
India first imposed windfall profit taxes on July 1 last year, joining a growing number of nations that tax the supernormal profit of energy companies.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.