{"id":502930,"date":"2022-07-05T09:38:46","date_gmt":"2022-07-05T04:08:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=502930"},"modified":"2022-07-05T09:55:15","modified_gmt":"2022-07-05T04:25:15","slug":"windfall-tax-12-margin-hit-for-reliance-govt-to-rake-in-rs-1-3-trn","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/windfall-tax-12-margin-hit-for-reliance-govt-to-rake-in-rs-1-3-trn\/","title":{"rendered":"Windfall tax: $12 margin hit for Reliance; govt to rake in Rs 1.3 trn"},"content":{"rendered":"<p>The windfall taxes imposed by the government on domestic crude oil production and fuel exports will hit ONGC&#8217;s earnings severely while shaving off up to $12 per barrel in refining margins for Reliance Industries Ltd. The new levies will give the government up to Rs 1.3 trillion additional revenue, brokerages said.<\/p>\n<p>In a surprise move, the government on July 1 increased import duties on gold (by 5 per cent), added export duties on petrol and ATF (Rs 6\/litre; $12 per barrel) and diesel (Rs 13\/liter; $26\/bbl) and slapped a windfall tax on domestic crude production (Rs 23,250 per tonne; $40\/bbl).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The windfall taxes imposed by the government on domestic crude oil production and fuel exports will hit ONGC&#8217;s earnings severely while shaving off up to $12 per barrel in refining margins for Reliance Industries Ltd. The new levies will give the government up to Rs 1.3 trillion additional revenue, brokerages said. In a surprise move, the government on July 1 increased import duties on gold (by 5 per cent), added export duties on petrol and ATF (Rs 6\/litre; $12 per barrel) and diesel (Rs 13\/liter; $26\/bbl) and slapped a windfall tax on domestic crude production (Rs 23,250 per tonne; $40\/bbl).<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-502930","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/502930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=502930"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/502930\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=502930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=502930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=502930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}