WebAug 21, 2024 · (Reuters) State-run oil explorer ONGC has sought reimbursement of large amounts paid by it as royalty and cess on behalf of its exploration partners for the pre-New Hydrocarbon Licensing Policy... WebJan 27, 2024 · In terms of Section 9 of the Mines and Minerals (Development and Regulation) Act, 1957 the holder of mining lease shall pay royalty in respect of any mineral removed / consumed. The Hon’ble Supreme Court in the case of State of Orissa and others v.
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WebIn India, a cess is a tax on tax levied by the government for a specific purpose. It is usually levied as an additional charge over and above the normal tax rate and is used to raise … WebAug 16, 2010 · Royalty is categorised under Intellectual property service payments by the Finance act 1994. Service tax @10.3% (existing) as well as R&D Cess @ 5% is payable with the facility to set off the R&D Cess against the Service tax liability and this Service tax is available as Cenvat credit. WebApr 22, 2024 · The central government charges 10-12.5 per cent royalty on oil produced from offshore areas. Sources said the company wants the royalty charged by the central government to be waived for now.... church in vancouver