+
India Adjusts Windfall Tax on Oil
OIL & GAS

India Adjusts Windfall Tax on Oil

he windfall tax on petroleum crude was increased to Rs 12,100 per ton from Rs 10,000, effective from September 30. This adjustment was made when oil prices reached $95 per barrel. Subsequently, oil prices decreased but have started to rise again, partly due to the Israel-Hamas conflict.

Additionally, the windfall tax on aviation turbine fuel has been reduced from Rs 3.50 per litre to Re 1, and the tax on diesel has been lowered from Rs 4 per litre to Rs 3. These changes are expected to benefit downstream oil refiners that export petroleum products.

The Indian government initially imposed the windfall tax on crude oil producers in July last year and extended the levy to exports of gasoline, diesel, and aviation fuel. This extension was a response to private refiners earning profits from robust refining margins in overseas markets rather than selling their products domestically.

he windfall tax on petroleum crude was increased to Rs 12,100 per ton from Rs 10,000, effective from September 30. This adjustment was made when oil prices reached $95 per barrel. Subsequently, oil prices decreased but have started to rise again, partly due to the Israel-Hamas conflict. Additionally, the windfall tax on aviation turbine fuel has been reduced from Rs 3.50 per litre to Re 1, and the tax on diesel has been lowered from Rs 4 per litre to Rs 3. These changes are expected to benefit downstream oil refiners that export petroleum products. The Indian government initially imposed the windfall tax on crude oil producers in July last year and extended the levy to exports of gasoline, diesel, and aviation fuel. This extension was a response to private refiners earning profits from robust refining margins in overseas markets rather than selling their products domestically.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

MMRDA Targets Completion of Projects by December 2028

The Mumbai Metropolitan Region Development Authority (MMRDA) is targeting the completion of all its ongoing infrastructure projects by December 2028, a year ahead of its December 2029 deadline, Metropolitan Commissioner Dr Sanjay Mukherjee has said.Speaking at the sixth edition of the Real Estate & Infrastructure Investors' Summit (REIIS) 2026 in Mumbai, Mukherjee said the authority was developing an integrated network of roads, tunnels, sea links and Metro corridors under its broader vision of “Mumbai in 59 Minutes”.The objective is to improve east-west and north-south connectivity an..

Next Story
Building Material

High-Performance Façades Gain Ground in Indian Buildings

High-performance façades are gaining greater importance in Indian architecture as developers and architects increasingly focus on energy efficiency, thermal comfort and building performance, according to Shankar Fenestrations & Glasses.The company said modern façade systems are increasingly being considered as part of a building's overall performance strategy rather than being used primarily as aesthetic elements.High-performance glass, curtain wall systems and structural glazing can contribute to thermal regulation, solar control, daylight management and indoor comfort. Their growing ad..

Next Story
Technology

SPML Infra's 104.4 kWh BESS Battery Pack Clears Global Tests

SPML Infra has announced that its proprietary 104.4 kWh Battery Energy Storage System (BESS) battery pack has completed key international safety, performance and transportation testing and certification requirements, marking a step towards its commercial deployment.Developed under the company's own intellectual property, the battery pack has completed requirements under UL9540A, IEC 62619, IEC 63056, IEC 60730, IEC 61000-6-2, IEC 61000-6-4 and UN38.3 standards.The testing covers areas including thermal runaway safety, battery performance, system functional safety, electromagnetic compatibility..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code