Windfall Tax on Crude Petroleum Raised to ₹3,200 per Tonne: CBIC notifies

If the oil companies pass on the increased tax burden to consumers, it could lead to higher prices for petroleum products such as gasoline and diesel
CBIC - Windfall Tax on Crude Petroleum - Crude Petroleum - Windfall Tax - CBIC notification on crude oil tax - Taxscan

The Central government has announced an increase in the windfall tax on petroleum crude, setting it at ₹3,200 per tonne effective from February 3, 2024. This adjustment comes as a revision from the previous rate of ₹1,700 per tonne. However, the windfall tax on diesel and aviation turbine fuel ( ATF ), has remained unchanged….

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