{"id":530298,"date":"2022-10-17T12:45:09","date_gmt":"2022-10-17T07:15:09","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=530298"},"modified":"2022-10-17T12:45:09","modified_gmt":"2022-10-17T07:15:09","slug":"centre-increases-windfall-tax-on-crude-oil-output","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/centre-increases-windfall-tax-on-crude-oil-output\/","title":{"rendered":"Centre increases windfall tax on crude oil output"},"content":{"rendered":"<p>The government on Saturday raised the tax on windfall profits on locally produced crude oil by 37.5% to \u20b911,000 per tonne and hiked the levy on diesel exports by 140% to \u20b912 per litre, while reimposing it on exports of jet fuel at \u20b93.50 per litre, as global oil prices surged this fortnight after the producers\u2019 cartel \u2013 the Organisation of the Petroleum Exporting Countries and its allies \u2013 decided a steep cut in output.<\/p>\n<p>The decision to hike the levies was taken after a fortnightly review of international oil prices on Saturday. The new rates will be applicable from Monday, according to a finance ministry notification. This is the seventh fortnightly review of the windfall profit tax on petroleum products since it was imposed from July 1, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government on Saturday raised the tax on windfall profits on locally produced crude oil by 37.5% to \u20b911,000 per tonne and hiked the levy on diesel exports by 140% to \u20b912 per litre, while reimposing it on exports of jet fuel at \u20b93.50 per litre, as global oil prices surged this fortnight after the producers\u2019 cartel \u2013 the Organisation of the Petroleum Exporting Countries and its allies \u2013 decided a steep cut in output. The decision to hike the levies was taken after a fortnightly review of international oil prices on Saturday. The new rates will be applicable from [&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-530298","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\/530298","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=530298"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/530298\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=530298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=530298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=530298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}