Tax exemption for petroleum-related goods: intra-State supplies liable only to reduced GST subject to prescribed certification and compliance. Exempts intra-State supplies of goods listed in the Annexure for use in petroleum and coal bed methane operations from GST to the extent the central tax exceeds the prescribed reduced rate, subject to conditions. Supply recipients must produce a Directorate General of Hydrocarbons certificate at the time of supply; subcontractors must supply an affidavit and undertakings; transfers require fresh certification and undertakings. Disposal may be taxed on depreciated value calculated by prescribed quarterly straight line rates. The notification includes a detailed qualifying goods list and is effective 1 July 2017.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption for petroleum-related goods: intra-State supplies liable only to reduced GST subject to prescribed certification and compliance.
Exempts intra-State supplies of goods listed in the Annexure for use in petroleum and coal bed methane operations from GST to the extent the central tax exceeds the prescribed reduced rate, subject to conditions. Supply recipients must produce a Directorate General of Hydrocarbons certificate at the time of supply; subcontractors must supply an affidavit and undertakings; transfers require fresh certification and undertakings. Disposal may be taxed on depreciated value calculated by prescribed quarterly straight line rates. The notification includes a detailed qualifying goods list and is effective 1 July 2017.
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