ONGC Receives ₹125 Crore GST Demand for Alleged Short Payment of OID Cess

ONGC has received a ₹125 crore GST demand for alleged short payment of OID (Oil Industry Development) Cess. The demand suggests that tax authorities believe ONGC has underpaid the cess, which is levied on crude oil and natural gas production. This significant demand highlights the ongoing scrutiny on tax and cess payments by large public sector undertakings. ONGC will likely review the demand, reconcile its calculations, and potentially challenge the assessment, indicating a significant financial dispute between the public sector major and the tax department.