New Delhi: The Finance Ministry on Wednesday denied reports that there was any proposal to levy fresh taxes on the petroleum sector, saying these were of a speculative nature.
In a release in the Capital, the Ministry said its attention has been drawn to reports appearing in a section of media, following a routine meeting between Petroleum Minister Murali Deora and Finance Minister P Chidambaram.
''The reports are largely speculative and in particular, reports about certain new tax proposals are totally baseless.'' it said.
The release said no one from Ministry of Finance had briefed the media on the meeting.
Additional Secretary in the Ministry of Petroleum, S Sundareshan, had told news-persons that the Government was not considering imposing a cess on income tax payees to bridge the gap resulting from under-recoveries of oil marketing companies.
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