Because of the softening of crude oil prices in the global markets, the central government has cut the windfall tax imposed on the export of petroleum products from the country. It is believed that companies like Reliance India Limited and ONGC will get big benefits from this move of the government. Let us tell you that about three weeks ago, the government increased this windfall tax to ensure the supply of petroleum products in the country. Now after the decrease in the prices of crude oil in the global market, the government has withdrawn its old decision.
Let us tell you that the government imposed a windfall tax of Rs 6 per liter on the export of petrol and ATF (aircraft fuel) three weeks ago. During that time a duty of Rs 13 per liter was also levied on the export of diesel. Apart from this, by issuing a separate notification, the government had informed about imposing an additional tax of Rs 23,230 per tonne on crude oil.
Windfall tax on petrol completely removed
Now the government has issued a fresh notification reducing the windfall tax on ATF (aircraft fuel) from Rs 6 per liter to Rs 4 per liter. At the same time, the windfall tax of Rs 6 per liter on petrol has been completely removed. The tax on the export of diesel has also been reduced from Rs 13 per liter to Rs 11 per liter. At the same time, the additional tax on crude oil has been reduced from Rs 23250 per tonne to Rs 17000 per tonne.
Reliance and ONCG shares shine
Shares of companies like Reliance and ONGC have seen a rise due to the government's decision to reduce the windfall tax imposed on the export of petroleum products. On Wednesday, shares of Reliance Company opened at Rs 2535 per share with a jump of about two and a half percent in the stock market, while ONGC shares have also seen a rise of up to seven percent. On Wednesday, ONGC shares opened at Rs 134.70 in the stock market.
Also Read: RBI Report: More interest may be available on deposits in the coming time
Pakistan's Home Minister and Asian Cricket Council (ACC) President Mohsin Naqvi has been in the n
The war between Russia and Ukraine, which started on 24 February, has been going on for 5 months,
The fourth Test of the Ashes series between Australia and England will be played in Manchester. A
The committee headed by Prime Minister Narendra Modi has finalized the names of the new Lokpal ch
Vivo T1x launched in India, got powerful features at a low price, know details
Vivo T1x Launch: Chinese smartphone brand Vivo has launched its new phone Vivo T1x in the Indian
The three-match ODI series between India and Sri Lanka has started in a very exciting way. The fi
PM Modi Visit Varanasi: PM Modi will gift 37 development projects to the state today, will make the election conch sound in a public meeting
Today, on the second day of his visit to Kashi, Prime Minister Narendra Modi will gift 37 projects w
Congress leader Shama Mohammed, who called Indian team captain Rohit Sharma fat, posted on 'X' an
India started with a win in the T20 series against Ireland. He defeated the hosts by two runs bas
It has become very difficult to stop the momentum of Shah Rukh Khan, who returned to the film scr
