Petroleum operations: intra State supplies of listed goods exempted up to a 2.5% State tax rate, subject to certification and conditions. The State exempts intra State supplies of goods listed in the annexure for specified petroleum and coal bed methane operations, limiting State tax liability to an amount calculated at 2.5%, subject to documentary certification by the Directorate General of Hydrocarbons, prescribed affidavits and undertakings for contractors and sub contractors, transfer conditions including foreign exchange certification where applicable, and payment on depreciated value upon disposal; effective 1 July 2017.
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.
Petroleum operations: intra State supplies of listed goods exempted up to a 2.5% State tax rate, subject to certification and conditions.
The State exempts intra State supplies of goods listed in the annexure for specified petroleum and coal bed methane operations, limiting State tax liability to an amount calculated at 2.5%, subject to documentary certification by the Directorate General of Hydrocarbons, prescribed affidavits and undertakings for contractors and sub contractors, transfer conditions including foreign exchange certification where applicable, and payment on depreciated value upon disposal; effective 1 July 2017.
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