The special additional excise duty (SAED), often known as the windfall tax, on domestically produced crude oil has been increased from Rs 8,000 to Rs 11,000 per tonne.
The cost of gas and diesel varies depending on a number of variables, including local taxes, the value-added tax (VAT), freight costs, etc. Petroleum products’ costs fluctuate in accordance with market pricing. Daily fuel price revisions are made by public sector OMCs like BPCL, IOCL, and HPCL in accordance with foreign exchange rates and international benchmark prices.
It is important to note that, in accordance with a notification released by the Finance Ministry on October 15, the windfall tax, also known as the special additional excise duty (SAED), on domestically produced crude oil has increased from Rs 8,000 to Rs 11,000 per tonne.
In the capital city of Bhubaneswar on Sunday, October 16, gasoline and diesel are being sold for Rs 103.19 and Rs 94.76, respectively. In Cuttack, the cost of fuel is now Rs 103.37 for gasoline and Rs 94.93 for diesel.
On Thursday, gasoline costs Rs 103.26 and diesel costs Rs 94.83 in the tourist town of Puri. Sambalpur, a town in western Odisha, has reported its gasoline and diesel prices at Rs. 103.68 and Rs. 95.25, respectively.
Balasore charges Rs 103.18 for gasoline and Rs 94.76 for diesel. Similar to other cities, Ganjam charges Rs 104.19 for gasoline and Rs 95.72 for diesel.
The government implemented a windfall tax on July 1 to penalise the business for the significant profits it has been making from the selling of refined crude on the world market. Its quantity is examined every two weeks.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?