Basis of calculation of quantity of Crude Petroleum Oil for the purpose of levy of National Calamity Contingent Duty (NCCD)

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..... ication was sought as to whether National Calamity Contingent Duty (NCCD) applicable to Crude Petroleum Oil as per Section 136 (1) of the Finance Act, 2001 should be calculated on the net quantity of Crude Petroleum Oil received in the refinery or gross quantity produced and supplied from the oil field to the refinery. The matter was discussed in the meeting of the Chief Commissioners' Conference .....

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