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 Now after the decrease in the prices of crude oil in the global market, the government has withdrawn its old decision.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
IND vs PAK U19: India got its first defeat in Under-19 Asia Cup, Pakistan defeated by eight wickets
Pakistan has defeated India by eight wickets in the Under-19 Asia Cup. Batting first at the ICC A
After getting bail from the Supreme Court in the Excise Policy Scam case, Arvind Kejriwal of Delh
Bollywood's 'Stree' (Shraddha Kapoor) has no shortage of admirers. Her social media following is
Salman Khan's security has been given top priority amid threats from the Lawrence Bishnoi gang in
Heavy Rain in Delhi- Heavy rain in NCR caused heavy waterlogging on the roads. Due to heavy water
Australia has announced an 18-member squad for the four-match Test series against India. Todd Mur
CM Yogi inspected the Kanwar route, showered flowers on the Kanwariyas from the helicopter
Chief Minister Yogi Adityanath showered flowers on the Kanwariyas from a helicopter on the second
A school run by the Ramakrishna Math, founded by Swami Vivekananda and the Ramakrishna Mission Be
After the film 'Saalar Part 1 Ceasefire', South superstar Prabhas is now in the headlines for his
Bitcoins Frozen: ED seizes bitcoins worth more than 120 million, action in gaming app e-nuggets case
ED today took major action in a money laundering case related to gaming app e-nuggets. The Centra
