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.

The government has officially withdrawn the windfall gains tax—imposed as a Special Additional Excise Duty (SAED) on crude oil production and exports of diesel, petrol, and aviation turbine fuel (ATF)—after nearly two-and-a-half years.

Finance ministry on Monday announced the scrapping of the windfall tax or special additional excise duty (SAED) on aviation turbine fuel (ATF), crude

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

Apart from taking a share of windfall profits of oil producers and fuel exporters to partly soften the blow of duty cuts on domestic petrol and diesel sales, the government also wanted to ensure enough fuel supply to meet domestic demand through these taxes.

The Indian government has abolished the windfall profit tax on domestically-produced crude oil and fuel exports, benefiting companies like ONGC, Oil I

The govt has withdrawn the Road and Infrastructure Cess on petrol and diesel exports to ease financial pressure on the oil sector

The government has revoked the windfall tax on crude oil and fuel exports, responding to industry demands amid falling international oil prices.

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

The government, on Monday, scrapped the windfall tax on exports of petrol, diesel and ATF. The move will benefit domestic refineries such as Reliance Industries Limited (RIL), Oil and Natural Gas Corporation ( ONGC ),

On Monday, the revenue department rescinded the June 30, 2022 notification that levied windfall tax due to decline in global oil prices