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of <h1>Jammu and Kashmir Amends GST for Petroleum and Coal Bed Methane Operations; New 9% Tax Option Introduced.</h1> The Government of Jammu and Kashmir has issued an amendment to the SRO notification No. SRO-GST-3 dated 08-07-2017, under the Jammu and Kashmir Goods and Services Tax Act, 2017. This amendment introduces a new item related to petroleum and coal bed methane operations under specified contracts in the Hydrocarbon Exploration Licensing Policy (HELP) or Open Acreage Licensing Policy (OLAP). Additionally, a proviso is added allowing recipients of outward supply to opt for a 9% tax rate on non-serviceable goods, subject to conditions and certification by the Directorate General of Hydrocarbons. The amendment is effective from October 1, 2019.
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