Finance Ministry rethinks windfall tax; Oil Ministry for natural gas under GST
The finance ministry is assessing the windfall tax on petrol, diesel, and aviation fuel exports. It is also considering bringing natural gas under GST. This follows the oil ministry's request to remove the tax. A proposal might be placed before the GST Council in the December 21 meeting. These measures aim to reduce tax burdens and boost consumer prices.
The finance ministry is evaluating windfall tax levied on export of petrol, diesel and Aviation Turbine Fuel (ATF), amid stable global crude prices, besides bringing natural gas under the ambit of the Goods and Services Tax.
This follows a request from the oil ministry to scrap the windfall tax. "No call on windfall tax is taken, yet one idea is to keep it zero, while keeping a provision of raising it if the government wishes," a government official told reporters.
