Tax treatment for mutilated petroleum goods: option to pay a specified lower tax rate on transaction value upon prescribed certification. The notification inserts petroleum operations and coal bed methane operations under HELP or OALP into the Table, and adds a proviso permitting the recipient or transferee, when goods are disposed of in non-serviceable form after mutilation, to opt to pay tax at 9 per cent on transaction value provided they produce a certificate from an authorised officer of the Directorate General of Hydro Carbons to the relevant Deputy or Assistant Commissioner of Central or State Tax confirming non-serviceability and prior mutilation.
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 treatment for mutilated petroleum goods: option to pay a specified lower tax rate on transaction value upon prescribed certification.
The notification inserts petroleum operations and coal bed methane operations under HELP or OALP into the Table, and adds a proviso permitting the recipient or transferee, when goods are disposed of in non-serviceable form after mutilation, to opt to pay tax at 9 per cent on transaction value provided they produce a certificate from an authorised officer of the Directorate General of Hydro Carbons to the relevant Deputy or Assistant Commissioner of Central or State Tax confirming non-serviceability and prior mutilation.
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