iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

India Hikes Windfall Tax on Petroleum Crude to ₹9,600

16 Apr 2024 , 01:15 PM

The windfall tax on petroleum oil was raised by the Indian government on Monday, April 15, from ₹6,800 to ₹9,600 per metric ton, with effect from April 16. The tax adjustment for diesel and aviation turbine fuel, which takes place every two weeks, will stay at zero.

The windfall tax on petroleum oil was increased by the government earlier on April 4 from ₹4,900 to ₹6,800 per metric ton. The implementation of a Special Additional Excise Duty (SAED) on domestic producers of crude oil is one way that the tax burden has increased.

Prior to this, on March 15, 2024, the Finance Ministry increased the windfall tax to ₹4,900 per tonne for the sale of domestic crude oil. This modification signified an increase from the special additional excise duty (SAED) of ₹4,600 per tonne for the previous two weeks.

The Indian government levied a windfall tax on producers of crude oil in July 2022. Later, this tax was extended to include aircraft turbine fuel (ATF), diesel, and gasoline exports. This policy tries to prioritize supply to the home market and discourage private refiners from taking advantage of high worldwide prices to sell these fuels overseas. Every two weeks, the government modifies the windfall tax rate.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • crude oil
  • India
  • Windfall Tax
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.