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of <h1>Crude Oil from NELP Blocks Exempt from Cess under Section 15(1) of Oil Industry Act 1974</h1> Cess on crude oil is imposed under the Oil Industry (Development) Act, 1974. Crude oil produced in blocks offered under the New Exploration Licensing Policy (NELP) through competitive international bidding is exempt from the cess under section 15(1) of the Act, as per a notification by the Ministry of Petroleum & Natural Gas dated November 9, 1998. The cess rate was updated to Rs. 2,500 per tonne, effective from March 1, 2002, replacing the previous rate of Rs. 1,000 per tonne, with further confirmation in the Finance Bill of 2006.
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