Windfall gains tax” referred to cesses imposed on fuel exports and domestic crude oil production to tax super-normal profits of fuel exporters and oil producers. Here is what its removal may signal from the government.

Finance ministry on Monday announced the scrapping of the windfall tax or special additional excise duty (SAED) on aviation turbine fuel (ATF), crude oil products, petrol and diesel. The windfall tax,

Imposed in July 2022, the windfall tax—formally known as Special Additional Excise Duty (SAED)—was introduced during a surge in global crude oil prices triggered by the Russia-Ukraine conflict.

India has scrapped a windfall tax on crude products, aviation turbine fuel, and petrol and diesel exports, a government order said on Monday. Reuters reported on Thursday, citing a federal government source,

India removes the windfall tax on petrol, diesel, and ATF exports after two months of discussions, following the stabilization of global oil prices. The decision marks a significant shift in

The government has abolished the windfall tax on aviation turbine fuel, crude products, petrol, and diesel after extensive deliberations. This decision is a relief for oil giants like Reliance and ONGC.

The windfall tax, introduced in July 2022, was designed to capture extraordinary gains made by producers amid surging global crude oil prices

The windfall tax was introduced in July 2022 when the Russia-Ukraine war and Western sanctions lead to surging crude oil prices, hugely profiting oil companies

The finance ministry has taken a series of steps signaling a shift in response to declining global oil prices and market conditions.