The central government has announced a significant hike in the windfall tax on crude petroleum. The special additional excise duty on crude petroleum has been increased from ₹3,250 per ton to ₹6,000 per ton, as per a Gazette notification. This marks a substantial increase since the last hike in April. The new tax rates will be effective from July 1. However, the taxes on diesel, petrol, and aviation turbine fuel will remain unchanged. Watch the video to get all the details and understand the implications of this new tax policy.
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The central government has hiked the windfall tax on crude petroleum on Monday The special additional excise duty on crude petroleum has been hiked from RAS's three thousand two hundred and fifty per ton to RAS's six thousand per ton according to a Gazette notification The government had last hiked the windfall tax on April The new tax rates will take effect from July to June it said The taxes on diesel petrol and aviation turbine fuel will continue to remain nil you
