{"id":518599,"date":"2022-09-01T12:32:29","date_gmt":"2022-09-01T07:02:29","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=518599"},"modified":"2022-09-01T12:32:29","modified_gmt":"2022-09-01T07:02:29","slug":"windfall-profit-tax-on-domestic-crude-exports-of-diesel-jet-fuel-raised","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/windfall-profit-tax-on-domestic-crude-exports-of-diesel-jet-fuel-raised\/","title":{"rendered":"Windfall profit tax on domestic crude, exports of diesel, jet fuel raised"},"content":{"rendered":"<p>The government has raised the windfall profit tax on domestically produced crude oil by \u20b9300 to \u20b913,300 per tonne after a fourth fortnightly review. It also increased the levies on exports of diesel and aviation turbine fuel (ATF) to \u20b913.50 per tonne and \u20b99 a litre, an official notification said.<\/p>\n<p>After reviewing global oil prices and margins of Indian petroleum refining companies the government raised the levy on exports of diesel from \u20b97 a litre to \u20b913.50. Exports of ATF will now attract \u20b99 per litre windfall tax instead of \u20b92 per litre that prevailed till August 31, according to the Union finance ministry\u2019s order issued late Wednesday night.<\/p>\n<p>A finance ministry official said the windfall tax on domestically produced crude oil is based on an abnormal hike in its rate in the international market. Indian oil producers align domestically-produced crude oil rates as per the movement of international benchmarks. The levy on exports of petroleum products such as diesel and ATF depends on the refiners\u2019 profit margins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government has raised the windfall profit tax on domestically produced crude oil by \u20b9300 to \u20b913,300 per tonne after a fourth fortnightly review. It also increased the levies on exports of diesel and aviation turbine fuel (ATF) to \u20b913.50 per tonne and \u20b99 a litre, an official notification said. After reviewing global oil prices and margins of Indian petroleum refining companies the government raised the levy on exports of diesel from \u20b97 a litre to \u20b913.50. Exports of ATF will now attract \u20b99 per litre windfall tax instead of \u20b92 per litre that prevailed till August 31, according to [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,183],"tags":[],"class_list":["post-518599","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/518599","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=518599"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/518599\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=518599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=518599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=518599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}