Cess on Crude Oil - Central Excise - Cess

Crude Oil Leviable under the Oil Industry (Development) Act, 1974 (47 of 1974) Crude Oil produced in the exploration block to be offered under New Exploration Licensing Policy (NELP) Competitive international bidding exempted from the cess leviable thereon under section (1) of section 15,Oil Industry (Development) Act, 1974 (47 of 1974), vide Ministry of Petroleum Natural Gas, Notification S.O.No. 958(E), dated 9.11.1998. Rs. 2,500 per tonne* Rs. 2500 per tonne** *Substituted (w.e.f. 1.3.2002) for "Rs. 1,000 per tonne" by section 160 of the Finance Act, 2002 (20 of 2002) **w.e.f. 1.3.2006, Vide Finance Bill, 2006 (Clause 73).