Industry seeks sops in face of plummeting prices: Roots for tax breaks

With oil prices plummeting, the Indian E&P industry has stepped up its demand for a better playing field from the government.
Clarification sought on what constitutes "mineral oil"
8The industry continues to seek clarification over the definition of mineral oil, and even though this has been clarified, E&P operators are still looking for a elaboration of the term "mineral oil" under various statutes of the government.
8The NELP NIO (prior to NELP VIII) do provide for a seven year tax holiday for both crude and gas. What is more CBM NIOs do provide for a seven year holiday even though CBM is nothign but gas.
8But in the recent past the subject matter is under different interpretation and this is reportedly in deviation from the correct legal and intended positon.
8So a clarification is again being sought on whether the term "mineral oil" includes petroleum and natural gas from..http://goo.gl/WNluOb

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