The Indian government has announced a reduction in the windfall tax on domestically-produced crude oil from Rs 2,100 to Rs 1,850 per tonne, effective from August 31, 2024. The special additional excise duty on the export of diesel, petrol, and jet fuel continues to be ‘nil’. The tax rates are reviewed every fortnight based on recent oil price trends.
Related Posts
PM Modi & his Spanish counterpart to inaugurate C-295 FAL in Vadodara on October 28
Prime Minister Narendra Modi and Spanish PM Pedro Sánchez will inaugurate Tata Advanced Systems’ C-295 aircraft facility in Vadodara on October 28. The facility, part […]
Global air cargo demand rises by 3.2 per cent in January 2025 amid market challenges
- staff
- February 27, 2025
- 0
Air cargo demand rose by 3.2% year-on-year in January 2025, maintaining 18 months of growth, according to IATA. Capacity also increased by 6.8%. However, yield […]
Gas consumption rises 11% in 2024, LNG imports spike
- staff
- January 21, 2025
- 0
Gas consumption in India grew by 11% annually in 2024, causing a rise in LNG imports to meet increasing demand. Sectors such as industry, oil […]