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

By Navasree A.M - On February 3, 2024 5:27 pm - 2 mins read

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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