05/2018-Integrated Tax (Rate) ,dt. 25-01-2018 Seeks to exempt Central Governments share of Profit Petroleum from Integrated tax

[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

Notification No. 5/2018- Integrated Tax (Rate)

New Delhi, the 25^th January, 2018

G.S.R……(E).- In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby exempts the inter-State supply of services by way of grant of license or lease to explore or mine petroleum crude or natural gas or both, from so much of the integrated tax as is leviable on the consideration paid to the Central Government in the form of Central Governments share of profit petroleum as defined in the contract entered into by the Central Government in this behalf.
 

[F. No.354/13/2018 -TRU]

(Ruchi Bisht)

Under Secretary to the Government of India

 
To Download Notification Click Here: