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    Vikshita Vitthal Gujaran in News

    16-Dec-2022 05:08 AM


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    Centre slashes windfall tax on domestic crude to Rs 1,700 a tonne

    The government on December 16 slashed the windfall profit tax on domestically produced crude oil and also reduced the levy on diesel.
    The revised tax rates become effective from December 16, 2022.
    The windfall tax on aviation turbine fuel has been reduced from Rs 5 per litre from to Rs 1.5 per litre, as per the notification.
    The government has been revising the windfall tax almost every two weeks since its introduction.
    Petrol & Diesel Rates Dec 14, 2022 Petrol Rate in Mumbai Dec 14, 2022 Current Petrol Price Per Litre ₹106 106 View more Diesel Rate in Mumbai Dec 14, 2022 Current Petrol Price Per Litre ₹94 94 View more Show Windfall profit tax is calculated by taking away any price that producers are getting above a threshold.

    Source - Money Control