SummaryThe windfall tax on crude petroleum increased by over 38% to ₹6,800 per tonne from ₹4,900 per tonne earlier, effective from April 4. In recent weeks, global crude oil prices have risen substantially, with Brent Crude oil trading near its five-month high of $90 per barrel amid supply concerns.The government on April 3 announced a hike in windfall tax on crude petroleum produce in the domestic market. As per notification, windfall tax on crude petroleum is increased by over 38% to…
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