scorecardresearchOil ministry says windfall tax response to dynamic situation

Oil ministry says windfall tax response to dynamic situation

Updated: 20 Sep 2022, 07:47 PM IST
TL;DR.
India first imposed windfall profit tax on July 1, joining a growing number of nations that tax super normal profits of energy companies. While duties were slapped on the export of petrol, diesel and jet fuel (ATF), a Special Additional Excise Duty (SAED) was levied on locally produced crude oil.
FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub,  the delivery point for U.S. crude futures in Cushing, Oklahoma, March 24, 2016.   REUTERS/Nick Oxford/File Photo

FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, the delivery point for U.S. crude futures in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo