A windfall tax is a surtax imposed by governments on industries experiencing significantly above-average profits due to economic conditions. This article delves into the mechanisms, applications, and controversies surrounding windfall taxes, shedding light on their impact on businesses and individuals. Discover windfall tax , why governments impose it, and how it impacts businesses and the economy. Explore real-world examples and key insights. Understand the rationale behind the removal of the windfall gains tax on crude oil production and fuel exports, its implications on the economy, and its impact on key stakeholders in India's energy sector. The Indian government has abolished the windfall profit tax on domestically-produced crude oil and fuel exports, benefiting companies like ONGC, Oil India Ltd, Reliance Industries Ltd, and Nayara ...
