New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    In what form did the Indian government introduce the

    Windfall Tax on July 1st, 2022, to address the shortage of energy products on the domestic market?
    A Sales tax Correct Answer Incorrect Answer
    B Value-added tax (VAT) Correct Answer Incorrect Answer
    C Good & Service Tax (GST) Correct Answer Incorrect Answer
    D Customs duty Correct Answer Incorrect Answer
    E Special additional excise duty Correct Answer Incorrect Answer

    Solution

    To address the shortage of energy products on the domestic market, the Indian government added a special additional excise duty on the export of gasoline and diesel, known as the Windfall Tax, on July 1st, 2022.

    Practice Next