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Windfall tax cut News

16 Dec 2022

Govt cut Windfall profit tax on crude oil & diesel; Will fuel rates come down?

The order is dated December 15. The new tax rates are effective from today, December 16. India first imposed windfall profit taxes on July 1.

Windfall tax cut

02 Nov 2022

Govt cuts windfall tax on crude oil, hikes for aviation fuel, diesel

India slashes the windfall tax on the export of crude oil. Windfall tax is levied on an unforeseen or unexpectedly large profit. The Centre had initially imposed a cess of Rs 23,250 per tonne on crude oil.

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