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CRUDE PETROLEUM TAXATION
100 days of Iran war, Rs 4,50,000 crore wiped out: Is your stock portfolio safe from missiles?Indian equities have lost Rs 4.5 lakh crore in 100 days as the Iran-led West Asia conflict and a global AI trade unwind trigger sharp FII o...- Petrol, diesel prices today on May 30: Have fuel rates changed? Check latest prices in Delhi, Mumbai, Bengaluru, Kolkata and morePetrol, diesel prices today: Fuel prices in India remained steady on May 30, offering a brief respite after recent increases. Prices, howev...
- ‘We are not like India...’: Pakistan minister admits on live TV country has no strategic oil reserves, says stock only for five to seven daysPakistan's energy vulnerability is highlighted as Petroleum Minister Musadik Malik revealed that Islamabad possesses only a few days of cru...
- Petrol at Rs 72, diesel at Rs 69 in Delhi? How GST could slash fuel prices in IndiaGlobal crude oil prices have surged past $110 per barrel. However, Indian retail fuel prices remain stable. This is due to government excis...
- India reimposes windfall tax on diesel, ATF exports; sets rates at Rs 21.5/litre and Rs 29.5/litreIndia has reinstated windfall taxes on diesel and aviation turbine fuel exports, with levies of Rs 21.5 and Rs 29.5 per litre respectively....
- India’s FY27 fiscal deficit target faces oil price risks amid Iran war: ICRAIran War: Elevated global energy prices due to West Asian geopolitical developments may pressure India's fiscal position in FY27. While hig...
- Parliamentary Panel urges diversification of crude oil sources to cut geopolitical risksIndia imports nearly 89 percent of its crude oil. A parliamentary committee highlights this dependence and rising geopolitical risks. It ur...
- Indian crude basket yet to factor in discounted Russian buysThe Indian basket of crude oil, which represents the cost of the country’s crude imports, has yet to include discounted Russian oil floodin...
- Abolished various cesses via budgets to pave way for GST: GovernmentHowever, seven cesses will continue to be levied under the Goods and Services Tax regime since they pertain to customs or goods which are n...
- Three foreign oil companies keen on hiring strategic oil storages"ADNOC of UAE, Saudi Aramco of Saudi Arabia and Shell have expressed their interest in storing crude oil in the strategic petroleum reserve...
- Dharmendra Pradhan asks states to help bring petro products under GSTAs per the GST Constitutional Amendment Bill, petroleum products like LPG, kerosene and naptha would attract GST.
- ICRA says GST to have negative impact on oil and gas industry; may hurt profitabilityTo begin with, for the oil and gas industry, five petroleum products like, crude oil and aviation turbine fuel would be included in GST at ...
- Budget 2011: Appropriate fiscal policies needed for oil & gas sector; says Akhil Sambhar, Tax professional, Ernst & YoungGovernment should give adequate fiscal incentives. These incentives will attract more companies to invest in the Indian oil & gas sector.
- States should take blame for high fuel pricesMany states have in their last budget hiked the value added tax on petroleum products, sharply increasing the incidence of state-specific t...
- Bring petrol, diesel under uniform VAT: AssochamThe government should bring petrol and diesel under a uniform VAT structure of 8 per cent as the variation in state tax was putting additio...
- Tax holiday haze still hangs heavy over natural gas productionUncertainty over seven-year tax holiday for exploration & production (E&P) of natural gas is far from over even after finance ministry’s as...
- Oil ministry seen shielding cos from ad valorem dutyThe oil ministry seems to have launched a nationwide campaign against ad valorem duty structure on fuel to save oil companies and consumers...
- Fuelling Relief: Deora moots 2.5% customs duty cutThe petroleum ministry has pitched for a customs duty cut across the board on both crude oil and petroleum products.
- Finmin may not give excise sops to oil cosThe finance ministry may not provide any excise duty concession on petroleum products.
- Budget may cut crude duty to 5%The groundwork for reforms in the tax structure for the petroleum sector, to be announced in the coming budget, is ready.
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