{"id":595283,"date":"2023-08-02T10:21:37","date_gmt":"2023-08-02T04:51:37","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=595283"},"modified":"2023-08-02T11:46:56","modified_gmt":"2023-08-02T06:16:56","slug":"windfall-tax-on-crude-up-165-as-oil-nears-85-barrel","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/windfall-tax-on-crude-up-165-as-oil-nears-85-barrel\/","title":{"rendered":"Windfall tax on crude up 165% as oil nears $85\/barrel"},"content":{"rendered":"<p>NEW DELHI: The Centre raised windfall gains tax on domestic crude by 165% from Rs 1,600 to Rs 4,250 per tonne from August 1 to suck out some of the benefits accruing to producers such as ONGC and Oil India Ltd from global oil prices shooting past the $80 per barrel mark in the last fortnight.<\/p>\n<p>Export tax by way of special additional excise duty on outbound shipments of diesel made a comeback at Rs 1 per litre as global benchmark margins hardened but remained unchanged at nil on petrol and jet fuel. <\/p>\n<p>The windfall on crude tax was made nil from May 16 as oil prices dropped to $70s but was reimposed on July 15 as oil rebounded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The Centre raised windfall gains tax on domestic crude by 165% from Rs 1,600 to Rs 4,250 per tonne from August 1 to suck out some of the benefits accruing to producers such as ONGC and Oil India Ltd from global oil prices shooting past the $80 per barrel mark in the last fortnight. Export tax by way of special additional excise duty on outbound shipments of diesel made a comeback at Rs 1 per litre as global benchmark margins hardened but remained unchanged at nil on petrol and jet fuel. The windfall on crude tax was made [&hellip;]<\/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":[130,219,137],"tags":[],"class_list":["post-595283","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/595283","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=595283"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/595283\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=595283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=595283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=595283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}