Applicable Laws

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Companies of Indian origin, as well as all companies operating in India are governed by all the laws of the country.

The specific laws dealing with issues in upstream are as follows

Sr.No.	Name of the Act/Rules	Ref.No.Act	Act Of Year	Web Link
1	The territorial Waters, Continental Shelf, Exclusive Economic Zone and other Maritime Zones Act	80	1976	http://meaindia.nic.in/actsadm/30aa13.pdf
2	The Income Tax Act	43	1961	http://law.incometaxindia.gov.in/TaxmannDit/DisplayPage/dpage1.aspx
3	The Income Tax Rules		1962	http://law.incometaxindia.gov.in/TaxmannDit/DisplayPage/dpage2.aspx?md=24&typ=cn&yr=2007
4	The Central Excise Act 1944	1	1944	http://www.cbec.gov.in/excise/cx-act/cx-act-idx.htm
5	The Central Excise Tariff Act 1985	5	1986	http://www.cbec.gov.in/excise/cx-tariff0607/cxt0607-idx.htm
6	The Oil Industry(Development) Act 1974	47	1974	http://petroleum.nic.in/OIDBrules/OIDB%20ACT.pdf
7	The Customs Act 1962	52	1962	http://www.cbec.gov.in/customs/cs-act/cs-act-idx.htm
8	The Custom Tariff Act 1975	51	1975	http://www.cbec.gov.in/customs/cst-0708/cst-act-rules-interpt.pdf
9	The Oilfield (Regulation & Development) Act , 1948	53	1948	http://petroleum.nic.in/ordact.pdf
10	The petroleum & Natural Gas Rules 1959		1959	http://petroleum.nic.in/pngrules.pdf
11	The Petroleum Tax guide, 1999		1999	http://petroleum.nic.in/nelp4.pdf