Advertisement
The government has cut the windfall tax on domestically-produced crude oil to Rs 1,700 per tonne from Rs 2,300 per tonne with effect from Tuesday.
The tax is levied in the form of Special Additional Excise Duty (SAED). According to an official notification, SAED on export of diesel, petrol and jet fuel or ATF has been retained at nil.
Today’s Rate
Saturday 28 Sept. 2024
Gold 24 KT
75,900/-
Gold 22 KT
70,600 /-
Silver / Kg
91,100/-
Platinum
44,000/-
Recommended rate for Nagpur sarafa Making charges minimum 13% and above
The new rates are effective from January 16. India first imposed windfall profit taxes on July 1, 2022, joining a growing number 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.
Advertisement
