{
petroleum ministry

Companies

}

government considers ending windfall tax on crude oil production

The Union finance ministry is considering the removal of the windfall tax on local crude oil output, as stated by Tarun Kapoor, an advisor to the Prime Minister. He noted that the tax, first imposed in 2022, has become irrelevant due to a significant drop in global oil prices. Recently, the government reduced the windfall tax on domestically produced crude oil by 11.9%, lowering it to Rs 1,850 per tonne from Rs 2,100 per tonne, effective August 31.
Moneycontrol
United States Dollar petroleum ministry Union finance ministry IND Tarun Kapoor Narendra Modi
Finance & Economy, News Article
08:32 23.10.2024
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