India raises windfall tax on domestic crude oil from Rs 3,250 to Rs 6,000 per tonne, effective July 2, 2023.
India increases windfall tax on domestically produced crude oil from Rs 3,250 to Rs 6,000 per tonne, effective July 2, 2023. Introduced in July 2022, the windfall tax aims to prevent private refiners from selling fuel overseas to capitalize on high refining margins rather than supplying domestically. The tax rate is reviewed every two weeks based on international crude prices.
July 01, 2024
5 Articles