scorecardresearchTo drop windfall tax if oil prices fall $40 a barrel, says Revenue Secretary Tarun Bajaj

To drop windfall tax if oil prices fall $40 a barrel, says Revenue Secretary Tarun Bajaj

Updated: 04 Jul 2022, 11:42 AM IST
TL;DR.
The tax on firms that have increased product exports to gain from higher overseas margins took effect on July 1, as the government moves to boost domestic supply and revenue.
New Delhi: Union Finance Minister Nirmala Sitharaman with Revenue Secretary Tarun Bajaj (L) during celebration of the 5th GST Day, in New Delhi, Friday, July 1, 2022. (PTI Photo/Arun Sharma)    (PTI07_01_2022_000100B)

New Delhi: Union Finance Minister Nirmala Sitharaman with Revenue Secretary Tarun Bajaj (L) during celebration of the 5th GST Day, in New Delhi, Friday, July 1, 2022. (PTI Photo/Arun Sharma) (PTI07_01_2022_000100B)