Tax treatment for mutilated non-serviceable petroleum goods: option to pay a specified tax rate upon DG Hydrocarbons certificate. The notification amends the GST notification to add petroleum operations and coal bed methane operations under HELP or OALP to the covered activities, and inserts a proviso permitting the recipient or transferee to elect to pay a specified tax rate on transaction value for goods disposed of in non-serviceable form after mutilation, subject to producing a certificate from an authorised officer of the Directorate General of Hydro Carbons before the appropriate Deputy or Assistant Commissioner of Central or State Tax.
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Tax treatment for mutilated non-serviceable petroleum goods: option to pay a specified tax rate upon DG Hydrocarbons certificate.
The notification amends the GST notification to add petroleum operations and coal bed methane operations under HELP or OALP to the covered activities, and inserts a proviso permitting the recipient or transferee to elect to pay a specified tax rate on transaction value for goods disposed of in non-serviceable form after mutilation, subject to producing a certificate from an authorised officer of the Directorate General of Hydro Carbons before the appropriate Deputy or Assistant Commissioner of Central or State Tax.
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