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        F. Acts / Amendment Acts

        Section 225 - Amendment of Schedule of Act 47 of 1974.

        Finance Act, 2016
        Part III
        AMENDMENT TO THE OIL INDUSTRY (DEVELOPMENT) ACT, 1974

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        Ad valorem duty altered for crude oil; Schedule column entry substituted to change the applicable levy. Amendment revises the Schedule to the Oil Industry (Development) Act, 1974 by substituting, against the crude oil entry at Sl.No.1, the entry in column 3 with the specified 'twenty per cent. ad valorem', thereby changing the Schedule's chargeable basis for crude oil.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Ad valorem duty altered for crude oil; Schedule column entry substituted to change the applicable levy.

                                Amendment revises the Schedule to the Oil Industry (Development) Act, 1974 by substituting, against the crude oil entry at Sl.No.1, the entry in column 3 with the specified "twenty per cent. ad valorem", thereby changing the Schedule's chargeable basis for crude oil.


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