Indian government raises windfall tax on domestically produced crude oil to Rs 7,000/tonne, effective July 16.
The Indian government increases windfall tax on domestically produced crude oil to Rs 7,000 per tonne, up from Rs 6,000, effective July 16. The Special Additional Excise Duty (SAED) tax, first introduced on July 1, 2022, targets energy companies' supernormal profits and is reviewed every two weeks based on average oil prices. The export of diesel, petrol, and aviation turbine fuel remains unchanged.
July 15, 2024
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