Tax exemption for profit petroleum share: state tax not leviable on Central Government's contractual consideration for exploration leases. Exempts from state tax intra State supplies of services by way of grant of licence or lease to explore or mine petroleum crude or natural gas to the extent of state tax leviable on the consideration paid to the Central Government as the Central Government's share of profit petroleum as defined in the contract entered into by the Central Government.
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 profit petroleum share: state tax not leviable on Central Government's contractual consideration for exploration leases.
Exempts from state tax intra State supplies of services by way of grant of licence or lease to explore or mine petroleum crude or natural gas to the extent of state tax leviable on the consideration paid to the Central Government as the Central Government's share of profit petroleum as defined in the contract entered into by the Central Government.
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