Concessional rate of petroleum operations for supply of goods under section 11(1) of the Uttar Pradesh Goods and Services Tax Act, 2017 - KA.NI.-2-855/XI-9(47)/17 - Uttar Pradesh SGST

Uttar Pradesh Offers 2.5% GST Rate for Goods Used in Petroleum Exploration under GST Act, 2017.

The notification issued by the Uttar Pradesh government under the GST Act, 2017, provides a concessional tax rate for intra-State supplies of goods used in petroleum operations. The exemption applies to goods specified in an annexed list and is granted on the recommendation of the council. The goods must be used in petroleum exploration or coal bed methane operations under specified contracts or policies. The concessional rate is 2.5%, subject to conditions such as the provision of certificates from authorized officers and compliance with specific operational requirements. The notification is effective from July 1, 2017.