Oil Industry Act Amendment: Cess on Domestic Crude Oil Changes from Fixed Rate to 20% Ad Valorem.

Amendment of Schedule to Act 47 of 1974 - OIL INDUSTRY (DEVELOPMENT) ACT, 1974 - to levy cess at the rate of twenty per cent. ad valorem instead of the present rate of ₹ 4500 per tonne, on domestically produced crude oil. .....

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