Cess on crude oil under the Oil Industry Act: NELP competitive bidding production exempted, specified per tonne rates adjusted. Cess is imposed on crude oil under the Oil Industry (Development) Act, 1974, but crude oil from exploration blocks offered under NELP through competitive ... Summary
Cess on crude oil under the Oil Industry Act: NELP competitive bidding production exempted, specified per tonne rates adjusted.
Cess is imposed on crude oil under the Oil Industry (Development) Act, 1974, but crude oil from exploration blocks offered under NELP through competitive international bidding is exempt from the section 15(1) cess by Ministry notification; the document records a specified per tonne cess rate and notes legislative amendments substituting and later revising that rate.
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