Govt raises Windfall Tax on Petroleum crude to Rs. 4900 per tonne [Read Notification]

Petroleum crude price increase to Rs. 4,900 per tonne with effect from 16th March 2024
Govt - Windfall Tax - Petroleum crude - tonne - taxscan

The Central Government, vide notification no. 10/2024-Central Excise dated 15th March 2024 has raised the windfall tax on petroleum crude from Rs. 4,600 per tonne to Rs. 4,900 per tonne. The new rate shall come into force from 16th March 2024. On July 1, 2022, India introduced windfall profit taxes, aligning itself with several other…

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