NEW DELHI: The oil ministry has sought a review of the two and-a-half-month old windfall profit tax on domestically produced crude oil saying it goes against the principle of fiscal stability provided in contracts for finding and producing oil.
The ministry in the August 12 letter sought exemption for fields or blocks, which were bid out to companies under Production Sharing Contract (PSC) and Revenue Sharing Contract (RSC), from the new levy.
It stated that companies have been since the 1990s awarded blocks or areas for exploration and production of oil and natural gas under different contractual regimes, wherein a royalty and cess is levied and the government gets a pre-determined percentage of profits.
The ministry, according to the letter, was of the opinion that the contracts have an in-built mechanism to factor in high prices as incremental gains get transferred in form of higher profit share for the government.
ãã®èšäºã¯ Millennium Post Delhi ã® September 20, 2022 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Millennium Post Delhi ã® September 20, 2022 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
From setbacks to success: Shreyas Iyerâs journey to IPL victory
Iyer, with trophy in his hands, took a playful walk towards his teammates, quite similar to what Messi did after the final against France in Doha
Starc hints at quitting one format to open doors for more franchise cricket
After resisting the lure of lucrative private leagues for almost a decade because of his commitment towards the 'Baggy Green', Australian pacer Mitchell Starc has hinted that he might quit one format to make room for more franchise cricket in his schedule.
Harmanpreetâs hat-trick guides India to 5=4 win over Argentina
Captain Harmanpreet Singh led from the front with a sensational hattrick as the Indian men's hockey team recorded a thrilling 5-4 win over Argentina in the FIH Hockey Pro League here.
HUDCO posts 24% rise in FY24 net profit to â¹2,116.74 cr
HUDCOâs revenue from operation grew 10.40% to Rs 7,784.29 cr from Rs 7,049.46 cr in FY23
Sebi asks social enterprises registered on SSE to submit annual impact report for FY24 by Oct
Capital markets regulator Sebi on Monday asked social enterprises, which have registered or mobilised funds through social stock exchange (SSE), to submit an 'annual impact report' for the financial year 2023-24 to such bourse by October-end.
KAL Airways, Kalanithi Maran to seek 21,323 cr in damages from SpiceJet, its chief Ajay Singh
KAL Airways and Kalanithi Maran on Monday said they will seek more than Rs 1,323 crore in damages from SpiceJet and its chief Ajay Singh as well as challenge the recent Delhi High Court order in the ongoing dispute between the two sides.
Modi govt reshaped Budget in 10 years, says FM Sitharaman
The government will continue to maximise the value impact of hardearned taxpayer money, says Finance Minister Nirmala Sitharaman
âRecord RBI dividend at 0.6% of GDP may not be sustainedâ
The RBI last week decided to transfer a record Rs 2.1 lakh crore dividend to the govt for FY24
Telcos to pay GST along with instalments of spectrum charges
Telecom companies will have to pay GST along with the instalments paid towards spectrum charges, a senior official said.
Step-up in investments at ONGC to delay its deleveraging over next 12-24 months: S&P
A step-up in investments at Oil and Natural Gas Corp (ONGC) will slow down its deleveraging over the next 12-24 months, eroding headroom for the state-owned firm's 'bbb+' standalone credit profile, S&P Global Ratings said on Monday.
