Jammu & Kashmir Exempts State Tax on Goods for Petroleum Operations under GST Act 2017.

The Government of Jammu and Kashmir, under the Jammu and Kashmir Goods and Services Tax Act, 2017, has exempted certain intra-state supplies of goods from state tax. These exemptions apply to goods used in petroleum and coal bed methane operations under specific licenses or contracts. The goods must be supplied to authorized entities such as the Oil and Natural Gas Corporation, Oil India Limited, or other contractors and sub-contractors involved in these operations. Conditions for exemption include providing certificates from the Directorate General of Hydro Carbons and adherence to specified transfer and usage protocols. The notification lists various equipment and materials eligible for exemption.

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