Tax exemption for petroleum operations limits state GST liability when specified supplies meet prescribed certification and transfer conditions. Exempts intra State supplies of listed goods used in petroleum and coal bed methane operations from state tax to the extent the tax exceeds a specified reduced rate, subject to documentary and procedural conditions. Entitlement requires production at outward supply of an official certificate confirming the goods' use in eligible petroleum or CBM operations, with additional affidavits and undertakings where supplies are made to sub contractors; transfers to other contractors or sub contractors require a transferee certificate and undertaking. The notification lists eligible goods and adopts Customs Tariff interpretative rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption for petroleum operations limits state GST liability when specified supplies meet prescribed certification and transfer conditions.
Exempts intra State supplies of listed goods used in petroleum and coal bed methane operations from state tax to the extent the tax exceeds a specified reduced rate, subject to documentary and procedural conditions. Entitlement requires production at outward supply of an official certificate confirming the goods' use in eligible petroleum or CBM operations, with additional affidavits and undertakings where supplies are made to sub contractors; transfers to other contractors or sub contractors require a transferee certificate and undertaking. The notification lists eligible goods and adopts Customs Tariff interpretative rules.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
