| Date: |
25-01-2018
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| Notification No: |
Notification No. 05/2018 - Central Tax (Rate)
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| Issuing Authority: |
GST
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| Type: |
Central Tax (Rate)
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| File No: |
F. No.354/13/2018 -TRU |
| Subject: |
Seeks to exempt Central Government’s share of Profit Petroleum from Central tax
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|
Government of India
Ministry of Finance
(Department of Revenue)
Notification No. 5/2018- Central Tax (Rate)
New Delhi, the 25th January, 2018
G.S.R......(E).- In exercise of the powers conferred by sub-section (1) of
section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the
Central Government, on being satisfied that it is necessary in the public
interest so to do, on the recommendations of the Council, hereby exempts the
intra-State supply of services by way of grant of license or lease to explore or
mine petroleum crude or natural gas or both, from so much of the central tax as
is leviable on the consideration paid to the Central Government in the form of
Central Government’s share of profit petroleum as defined in the contract
entered into by the Central Government in this behalf.
(Ruchi Bisht)
Under Secretary to the Government of India
[F.
No.354/13/2018 -TRU]
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