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   When will the windfall tax end?

   • In a statement, the Treasury said the windfall tax - called the Energy Profits Levy - will end if average oil and gas prices fall to, or below, a set level for two consecutive three-month periods. If not, the tax will remain in place until March 2028. The level has been set at $71.40 per barrel for oil and £0.54 per therm for gas.

   Windfall tax to end if energy prices drop | BBC

   www.bbc.com/news/business-65853400

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   How often is the windfall tax revised?

   • The windfall tax is revised every 15 days based on the average oil prices in two weeks. It is charged as Special Additional Excise Duty (SAED), which is a tax on the profit made from domestically produced crude oil. The last revision of the windfall tax, effective August 31,on crude petroleum was set at ₹ 1,850 per tonne.

   Windfall tax on petroleum crude slashed to 'zero' with effect from THIS …

   www.msn.com/en-in/money/news/windfall-tax-on-petroleum-crude-slashed-to-zero-with-effect-from-this-date-diesel-atf-retained-at-nil/ar-AA1qJatK

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   When will the windfall tax on crude oil be scrapped?

   • T he government has scrapped the windfall tax on domestically produced crude oil with effect from September 18. The windfall tax on domestically produced crude oil will be zero, the government said in a notification on Tuesday, September 17. The windfall tax is revised every 15 days based on the average oil prices in two weeks.

   Windfall tax on petroleum crude slashed to 'zero' with effect from THIS …

   www.msn.com/en-in/money/news/windfall-tax-on-petroleum-crude-slashed-to-zero-with-effect-from-this-date-diesel-atf-retained-at-nil/ar-AA1qJatK

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   What if windfall tax is eliminated?

   • So with the windfall tax, that takes the overall tax rate faced by oil and gas companies to 75%. If it is eliminated, the overall tax rate on energy firms would return to 40%. Trade body Offshore Energies UK welcomed the announcement, but warned the industry still faced challenges.

   Windfall tax to end if energy prices drop | BBC

   www.bbc.com/news/business-65853400

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2. www.taxscan.in › govt-reduces-windfall-tax-onGovt reduces Windfall Tax on Petroleum Crude, Diesel, and ATF ...

   www.taxscan.in › govt-reduces-windfall-tax-on

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   Sep 18, 2024 · On September 18, 2024, the Indian Government officially abolished the windfall tax on Petroleum Crude, Diesel, and Aviation Turbine Fuel (ATF), as announced in a recent notification. The Special Additional Excise Duty (SAED) on these commodities is now set to zero.

3. economictimes.indiatimes.com › industry › energyWindfall tax may be phased out in 2023, says Fitch Ratings

   economictimes.indiatimes.com › industry › energy

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   Dec 6, 2022 · As oil rates have started moderating, the five-month-old tax on windfall profits made by oil cos will be phased out in 2023, Fitch Ratings said on Tuesday. The tax rates are revised every fortnight based on prevailing international rates. The levy on petrol export has since been abolished.

4. Videos

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5. economictimes.indiatimes.com › news › economyWindfall tax: Government scraps windfall tax on crude oil ...

   economictimes.indiatimes.com › news › economy

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   Sep 17, 2024 · The Indian government has announced the removal of the windfall tax on crude oil, effective from September 18. Initially imposed in July 2022, the tax was aimed at curbing profits from high refining margins.

6. www.msn.com › en-in › moneyWindfall tax on petroleum crude slashed to 'zero' with effect ...

   www.msn.com › en-in › money

   The windfall tax on domestically produced crude oil will be slashed to ‘zero’ effective September 18. This marks its second reduction to nil since its introduction in July 2022.

7. economictimes.indiatimes.com › industry › energyIndia raises windfall tax on crude by Rs 1,000; removes taxes ...

   economictimes.indiatimes.com › industry › energy

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   Jan 2, 2024 · Simultaneously, New Delhi abolished the tax on diesel and aviation turbine fuel (ATF), maintaining the absence of windfall taxes on petrol. Previously, windfall taxes of 50 paise per litre and one rupee per litre applied to diesel and ATF, respectively, which have now been eliminated.

8. www.bbc.com › news › business-65853400Windfall tax to end if energy prices drop - BBC

   www.bbc.com › news › business-65853400

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   Jun 9, 2023 · The windfall tax on oil and gas firms will be scrapped if prices fall to normal levels for a sustained period, the government has announced. Halting the windfall tax would cut the overall...

9. www.reuters.com › markets › commoditiesIndia cuts windfall tax on diesel, crude oil | Reuters

   www.reuters.com › markets › commodities

   Nov 16, 2023 · India imposed a windfall tax on crude oil producers in July 2022 and extended the levy on exports of gasoline, diesel and aviation fuel as private refiners wanted to sell fuel overseas to...