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of <h1>Cess on Crude Oil Doubled to Rs. 600/Tonne from March 1, 1987, per Section 15(1) of Oil Industry Development Act.</h1> The rate of cess on crude oil has been revised from Rs. 300 to Rs. 600 per tonne, effective from March 1, 1987, as per a notification by the Ministry of Petroleum & Natural Gas. The Central Excise Board clarifies that the applicable date for the revised cess rate is when crude oil is removed from its production site. The cess is payable on the quantity received at the refinery or factory. This decision aligns with Section 15(1) of the Oil Industry Development Act, ensuring clarity on the determination date for the revised cess rate.
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