For upstream oil PSUs, in the current windfall regime, realisations are not impacted until the price of $75 a barrel. However ...

Increases government revenue: The government can raise revenue in other areas thanks to the windfall tax. Commodity prices decrease: Commodities in limited supply in India may see a price decline.

The Indian government has cut the windfall tax on petroleum crude to zero from 1,850 rupees per metric ton, effective from ...

The tax rates are reviewed every fortnight based on recent oil price trends. India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of ...

India revises the windfall tax on petroleum crude every fortnight. (Reporting by Nikunj Ohri and Urvi Dugar; Editing by Toby Chopra) ...

Windfall tax on diesel has been reduced to Rs 5.5 per litre from Rs 6 per litre with effect from September 16 On September 1, the government had cut windfall tax on petroleum crude to Rs 6,700 per ...

Image source- Pexels This is the second fortnightly cut in windfall tax in a row after a Rs 8,400 per metric ton reduction from Rs 9,600 on May 1. Upstream oil exploration and production companies ...

The windfall tax on oil and gas firms will be scrapped if prices fall to normal levels for a sustained period, the government has announced. Halting the windfall tax would cut the overall tax rate ...

For example, in 2022, the United Kingdom introduced a windfall tax on the profit of energy companies due to soaring energy prices exacerbated by geopolitical events, including the war in Ukraine.

NEW DELHI, Aug 12 (Reuters) - India's oil ministry has asked the finance ministry to withdraw windfall tax on petroleum products, broadcaster ET Now reported on Monday, citing sources. The oil ...

Earlier this month, the government raised the windfall tax on petroleum crude to 1,600 Indian rupees per tonne from zero. India last July imposed the windfall tax on crude oil producers and extended ...

The government had on April 16 raised the windfall tax on petroleum crude to Rs 9,600 per cent tonne from Rs 6,800. A tax levied on an unforeseen or unexpectedly large profit is called a windfall tax.