The move is in line with falling global crude prices, and subsequent shrinking of profit of domestic oil producers, they stressed.
On Tuesday, the Centre brought down the tax to nil, down from ₹1,850 per tonne and ₹2,100 per tonne in the two previous fortnights. Classified as the Special Additional Excise Duty (SAED), windfall tax is levied on domestically produced crude oil, and export of diesel, petrol, and jet fuel (ATF). The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks. It had been slashed to nil once before, on April 4, 2023.
Bu hikaye Business Standard dergisinin September 19, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin September 19, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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