domestic crude oil

<!-- -->The government has cut windfall gains tax on domestically-produced crude oil to nil. (Representational)New Delhi: The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at…

 The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has been increased to ₹2,100 per tonne from ₹1,700 per tonne. File. | Photo Credit: Reuters The government has raised the windfall profit tax…

NEW DELHI: The government on Friday cut the windfall profit taxon locally produced crude oil in line with a fall in international rates, and reduced the levy on export of diesel and jet fuel (ATF). At the fifth fortnightly review, the…

NEW DELHI: The government on Thursday hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates.…

As the government has deregulated the domestically produced crude oil, the producers will now have an option to sell their oil in the domestic market to whoever pays the highest price, including private players. This decision will…

NEW DELHI: Domestic producers will be free to sell crude from their fields to government and private refineriesfrom October 1, ending the historical monopoly of state-run refiners over domestic crude. The decision taken by the Cabinet’s…