State tax exemption for profit petroleum share removes state GST on Central Government's share paid under exploration or mining licences. Exempts from state tax the intra State supply of services by way of grant of license or lease to explore or mine petroleum crude or natural gas to the extent of state tax leviable on the consideration paid to the Government as the Central Government's share of profit petroleum as defined in the contract.
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Provisions expressly mentioned in the judgment/order text.
State tax exemption for profit petroleum share removes state GST on Central Government's share paid under exploration or mining licences.
Exempts from state tax the intra State supply of services by way of grant of license or lease to explore or mine petroleum crude or natural gas to the extent of state tax leviable on the consideration paid to the Government as the Central Government's share of profit petroleum as defined in the contract.
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