GENERAL30 Sept 2026
Centre proposes changes to Petroleum Act, seeks stakeholders' feedback
The government has put out a draft Bill to change the Petroleum Act. It plans to stop treating simple breaches of licence conditions as crimes. But it also creates specific criminal offences and higher penalties for unauthorised activities. Since this is only a draft, the final rules are not law yet. Petroleum and fuel businesses should read it and share their views.
Key Statutory Highlights
- The government has released a draft Bill proposing changes to the Petroleum Act.
- The draft proposes to decriminalise breaches of licence conditions.
- The draft introduces specific criminal offences and higher penalties for unauthorised activities.
Actionable Advice for Taxpayers / Founders:If you run a petroleum or fuel-related business, read the draft Bill carefully and send your feedback while the government is still seeking views. Speak to your advisor about how the final law could affect your licence conditions, without assuming the draft will be passed as it stands.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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