India has dropped its windfall tax, relieving the oil sector of a distortive levy. That’s good riddance, but what the economy needs is fuel taxation guided by carbon concerns over revenue rake-ins.
1 min read3 Dec 2024Weakening prices of the commodity have made the levy irrelevant, the advisor to the prime minister said.
2 min read23 Oct 2024Shares in the Czech Republic’s dominant power utility CEZ AS declined the most since the Aug. 5 global selloff as the government signaled it’s no longer considering ending the windfall tax before its original expiration date.
1 min read23 Aug 2024There is no change in windfall tax for diesel and aviation turbine fuel (ATF), as per a government notification.
1 min read16 May 2024The tax on petrol, diesel, and aviation turbine fuel remains unchanged zero.
1 min read15 Mar 2024The windfall tax on petroleum crude has been increased to ₹3,200 per tonne from ₹1,700 per tonne, effective February 3.
2 min read3 Feb 2024Effective from today, SAED on domestically produced crude oil is cut from ₹5,000/tonne to ₹1,300/tonne. And, SAED on diesel exports has been scaled down from ₹1/litre to ₹0.50/litre.
2 min read19 Dec 2023Traders would keenly watch the meeting of US Federal Reserve’s Federal Open Market Committee scheduled this week.
2 min read18 Sep 2023The May 16 windfall tax notification had reduced the special additional excise duty on petroleum crude to nil from ₹4,100/tonne.
1 min read17 Jun 2023Oil and gas stocks reacted positively to windfall tax reduction to zero on Tuesday. Indian Oil, ONGC and BPCL were top gainers, while Adani Total Gas, RIL and IGL were under pressure. The windfall tax to NIL is revised due to fluctuations in crude oil prices.
2 min read16 May 2023The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared