Here’s how windfall tax will impact Reliance, ONGC and OIL India
NEW DELHI: The government recently imposed a windfall tax on all refiners, including SEZ refineries, on the export of diesel, petrol and air turbine fuel. Besides, it also imposed a cess on domestic crude output.
Analysts said the development is a setback for refiners as they cut FY23 estimates steeply. The tax could potentially be used to offset OMC losses on auto fuel, analysts said.
