05/2018-Union Territory tax(rate), dt. 25-01-2018 Seeks to exempt Central Governments share of Profit Petroleum from Union Territory 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- Union Territory 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 8 of the Union Territory Goods and Services Tax Act, 2017 (14 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 intra-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 Union territory 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

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