Centre will make $12bn from windfall tax on oil companies
Image Credit: oilandgasmiddleeast
The Indian government has set itself up for a bumper tax revenue in the remainder of this current fiscal. According to Moody's Investors Service, the government will make close to $12 billion from the windfall taxes imposed on domestic crude oil production and fuel exports. The windfall taxes on the export of petrol, diesel, and aviation turbine fuel (ATF) was imposed on July 1.