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What is the new windfall tax on domestically produced crude oil in India?
- a)Rs 10,100 per tonne
- b)Rs 11,400 per tonne
- c)Rs 11,700 per tonne
- d)Rs 12,100 per tonne
Correct answer is option 'D'. Can you explain this answer?
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What is the new windfall tax on domestically produced crude oil in Ind...
Introduction:
The new windfall tax on domestically produced crude oil in India is Rs 12,100 per tonne.
Explanation:
- Reason for the tax: The Indian government has imposed this tax as a way to generate revenue from the recent surge in crude oil prices.
- Amount of tax: The tax amount is set at Rs 12,100 per tonne of domestically produced crude oil.
- Impact on the industry: This tax is expected to increase the cost of production for oil companies operating in India, leading to potential price increases for consumers.
- Government revenue: The government aims to collect significant revenue through this tax, which can be utilized for various developmental projects and initiatives.
- Implementation: The tax will be levied on oil companies based on their production volume, with the aim of ensuring a fair distribution of the tax burden.
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What is the new windfall tax on domestically produced crude oil in Ind...
The Indian government has increased the windfall tax on domestically produced crude oil to Rs 12,100 per tonne, up from Rs 10,000 per tonne, effective from September 30, 2023.
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What is the new windfall tax on domestically produced crude oil in India?a)Rs 10,100 per tonneb)Rs 11,400 per tonnec)Rs 11,700 per tonned)Rs 12,100 per tonneCorrect answer is option 'D'. Can you explain this answer?
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