A timeline of windfall gains tax implementation in India2 min read 21 Mar 2023, 06:19 PM IST
India implemented windfall profit taxes on July 1 of the previous year, aligning with other countries that tax energy companies' exceptional profits.
As per an official notification, the Central Government has reduced the windfall profit tax on diesel exports to a historic low of ₹0.50 per litre and has completely waived it off for ATF or jet fuel. However, the tax on domestically produced crude oil has been slightly raised.
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