Seeks to exempt crude petroleum oil produced in specified oil fields under production sharing contracts or in the exploration blocks offered under the New Exploration Licensing Policy (NELP) through international competitive bidding vide Notification No. 6/2019-Central Excise Dated 6th July, 2019.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, the 6th July, 2019
G.S.R.489(E).– In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the Excise Act), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts, petroleum oils and oils obtained from bituminous minerals, crude, produced either in the fields under the Production Sharing Contracts, specified in column (2) of the Table below or in the exploration blocks offered under New Exploration Licensing Policy (NELP) through competitive international bidding, from whole of the duty of excise leviable thereon under the Fourth Schedule to Excise Act.
|Sl. No.||Name of fields under Production Sharing Contracts|
|1.||Panna and Mukta fields|
|4.||Mid and South Tapti fields|
|18.||North Balol field|
|25.||North Kathana field|
[F. No.334/3/201 9-TRU]
(Gunjan Kumar Verma)
Under Secretary to the Government of India