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Latest Articles in windfall tax

ONGC Q2 Net Profit Slumps 30% As Windall Tax Weighs

Sequentially, the profit slipped 15.6 per cent as in the June quarter of this fiscal it had reported a profit of Rs 15,206 crore

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Centre Reduces Windfall Tax On Crude Oil; Hikes Export Levy On Diesel, ATF

The Centre has gone in for a cut in the windfall tax on the sale of locally produced crude oil at a time when global oil prices have largely remained flat at around USD 95 per barrel

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Petroleum & Natural Gas Ministry Clarifies Media Reports On ‘Windfall Tax Review’

The Ministry said in a statement that crude oil prices have seen a lot of volatility this year

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Government Raises Taxes On Diesel, Aviation Fuel Export

The government also hiked the windfall tax for domestically produced crude oil from 13,000 rupees per tonne to 13,300 rupees per tonne

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Government Cuts Windfall Tax On Domestic Crude; Export Duty On ATF, Diesel Hiked

The export duty on aviation turbine fuel was hiked from nil to Rs 2 per litre. Also, the export duty on diesel was hiked by two rupees to Rs 7 per litre from Rs 5 per litre

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Windfall Tax On Oil Producers Likely To Be Cut In Fortnightly Review

This is the third such review of the windfall tax and export duty levied on oil producers and fuels since July 1. The government removed the export duties on petrol and aviation turbine fuel (ATF) in the previous reviews

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Tech, Energy Stocks Propel Indian Equities To Over Six-week High

The NSE Nifty 50 index ended 1.1 per cent higher at 16,520.85, while the S&P BSE Sensex rose 1.15 per cent to 55,397.53, with both indexes posting their fourth straight session of gains

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Benchmark Indices Rise As Govt Cuts Windfall Tax On Crude Sales, Fuel Exports

The NSE Nifty 50 index gained 1.14 per cent to 16,527, as of 13:17 IST, while the S&P BSE Sensex was up 1.2 per cent at 55,426.80. Both the indices hit their highest since June 6

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Tax Changes To Boost Tax Mop-up This Fiscal: Report

After the May 21 tax cuts on fuels, the government has announced a slew of fiscal policy measures to improve its revenue and contain the fiscal deficit

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Windfall Tax Review More Likely Now After Sharp Fall In Global Crude Prices

In a surprise move, the government on July 1 slapped export duties on petrol and ATF (Rs 6 per litre or USD 12 per barrel) and diesel (Rs 13 a litre or USD 26 a barrel) and imposed a windfall tax on domestic crude production (Rs 23,250 per tonne or USD 40 per bbl)

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How India's Export Curbs, Tax Hike Will Exacerbate Global Diesel, Petrol Shortage

The world is grappling with tight gasoline and diesel supplies as Western sanctions have reduced exports from Russia while demand has surged in a post-pandemic recovery

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Windfall Tax To Cut RIL & ONGC Profits, Govt Will Earn Rs 94,800 Cr: Moody's

The rating agency said the rise in tax payments is not expected to materially weaken the RIL or ONGC's credit quality because their margins will continue to be healthy

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Govt To Review Windfall Tax On Crude Oil And Fuel Exports Every Fortnight

The review is based on the premise that if crude prices fall, then windfall gains will cease and new taxes would be rollback

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Windfall Tax To Shave Off $12 Margin For RIL, Severely Hit ONGC Earnings, Say Brokerages

The new levies will give the government up to Rs 1.3 lakh crore additional revenue, brokerages said

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