https://www.taxtmi.com/manuals?id=3168 The taxability of Cost Petroleum under GST turns on whether the portion of petroleum retained by contractors to recover exploration, development and production expenses constitutes consideration for a service to the Government or to a joint venture; contractors act as licensees carrying out operations at their own risk, and Cost Petroleum is not consideration for services to the Government and is not taxable per se. en-us Wed, 04 Oct 2023 18:03:00 +0530 Sat, 22 Mar 2025 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=3168 The taxability of Cost Petroleum under GST turns on whether the portion of petroleum retained by contractors to recover exploration, development and production expenses constitutes consideration for a service to the Government or to a joint venture; contractors act as licensees carrying out operations at their own risk, and Cost Petroleum is not consideration for services to the Government and is not taxable per se. Manuals GST Wed, 04 Oct 2023 18:03:00 +0530 https://www.taxtmi.com/manuals?id=3168