Amendment Extends Concessional UTGST Rates for Hydrocarbon Projects, Introduces 9% Tax Rate on Mutilated Goods Effective October 1, 2019.
The notification amends the previous notification No. 3/2017-Union Territory Tax (Rate) dated June 28, 2017, to extend concessional Union Territory Goods and Services Tax (UTGST) rates to projects under the Hydrocarbon Exploration Licensing Policy (HELP) and Open Acreage Licensing Policy (OALP). It introduces a new item for petroleum or coal bed methane operations under specified contracts in the notification table. Additionally, it allows for a 9% tax rate on non-serviceable goods after mutilation, subject to certification by the Directorate General of Hydrocarbons. This amendment takes effect on October 1, 2019.
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