Windfall Tax

On 1st July, 2022, India slapped a windfall tax on the country's oil producers and oil refiners who are exporting more due to the high international price of crude oil and refined products.

  • Windfall tax will be 23,250 rupees per ton on oil producers and 6 rupees per liter on gasoline and jet fuel.
  • The windfall tax on gasoil exports will be 13 rupees per liter.

About Windfall Tax

  • A windfall tax is a one-off tax imposed by a government on a company. It is levied on an unforeseen or unexpectedly large profit, especially unfairly obtained.
  • Now, international crude prices have ....
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