Exemption for petroleum operations expanded to include HELP/OALP; option to pay tax on mutilated goods subject to DG certificate. The amendment adds goods used in petroleum operations or coal bed methane operations under HELP or OALP to the list eligible for State tax exemption above five per cent, and inserts a proviso allowing the recipient or transferee to elect to pay tax on transaction value for goods disposed as non-serviceable after mutilation, conditioned on producing a certificate from a duly authorised officer of the Directorate General of Hydro Carbons confirming the non-serviceability and 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.
Exemption for petroleum operations expanded to include HELP/OALP; option to pay tax on mutilated goods subject to DG certificate.
The amendment adds goods used in petroleum operations or coal bed methane operations under HELP or OALP to the list eligible for State tax exemption above five per cent, and inserts a proviso allowing the recipient or transferee to elect to pay tax on transaction value for goods disposed as non-serviceable after mutilation, conditioned on producing a certificate from a duly authorised officer of the Directorate General of Hydro Carbons confirming the non-serviceability and mutilation.
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