Windfall Gain Tax
On 2nd December, 2024, the government scraped the windfall gains tax on domestic production of crude oil and export of diesel, petrol, and aviation turbine fuel (ATF), scrapping the levy that was introduced 30 months ago amid a surge in the prices of crude oil and key fuels in the international market in the wake of Russia’s invasion of Ukraine.
Impact
- The scrapping of the windfall gains tax may not have any notable impact on the financials of domestic oil producers like Oil and Natural Gas Corporation (ONGC) and Oil India (OIL).
- It does, however, have value as a signal of ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Economy Watch
- 1 Government Expands Coverage of RELIEF Scheme
- 2 Government Notifies Conditional Concessional Customs Duty for SEZ
- 3 Kandla Port Upgrades Methanol Bunkering Capabilities
- 4 Kalai-II Hydro Electric Project
- 5 CSIR Transfers Indigenous Bio-Bitumen Technology
- 6 Cabinet Approves Bharat Maritime Insurance Pool
- 7 India Achieves Record Growth in Wind Energy in FY 2025-26
- 8 Government Notifies Startup India Fund of Funds 2.0
- 9 India’s Fisheries Sector
- 10 Mohra Power Project
