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The government has cut windfall tax on domestically produced crude oil to Rs 8,400 per tonne from Rs 9,600 per tonne with effect from Wednesday.
The tax is levied in the form of Special Additional Excise Duty.
Gold Rate
Saturday18 Jan. 2025
Gold 24 KT
79,600 /-
Gold 22 KT
74,000 /-
Silver / Kg
90,900/-
Platinum
44,000/-
Recommended rate for Nagpur sarafa Making charges minimum 13% and above
The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at nil.
The new rates are effective from May 1, an official notification said. India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.
The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.
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