Home / Economy / News / Reports of request for windfall tax review misleading: Oil ministry

Reports of request for windfall tax review misleading: Oil ministry

The Ministry has not however categorically denied making a request to exempt certain oil blocks

An Oil and Natural Gas Corp's (ONGC) well is pictured in an oil field on the outskirts of Ahmedabad

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The exemption from the two-and-half-month old levy had been sought for oil field or blocks which were bid out to companies under Production Sharing Contract (PSC) and Revenue Sharing Contract (RSC)

Subhayan Chakraborty New Delhi

3 min read Last Updated : Sep 20 2022 | 10:50 PM IST

The Ministry of Petroleum & Natural Gas has rubbished reports on Centre seeking to review the windfall tax for certain oil fields and blocks. The Hardeep Singh Puri-led Ministry on Tuesday said the reports are misleading.

The Ministry sought exemption in the levy of Special Additional Excise Duty (SAED) in a letter to the Finance Ministry in August, some reports said.

The exemption from the two-and-half-month old levy had been sought for the oil field or blocks which were bid out to companies under Production Sharing Contract (PSC) and Revenue Sharing Contract (RSC).

The reports said the ministry had argued

Topics : Hardeep Singh Puri Oil Ministry Petroleum Ministry

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