Notification No. 05/2018 - Central Tax (Rate) dated 25-01-2018 [Grant of license or lease to explore or mine petroleum crude or natural gas by CG wholly exempt]

Notification No. 05/2018-Central Tax (Rate) dt. 25-01-2018

In exercise of the powers conferred by section 11(1) of the CGST ACT, 2017

Grant of license or lease to explore or mine petroleum crude or natural gas by CG wholly exempt from CGST

Central Government, on being satisfied that it is necessary in the public interest so to do ,

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.

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Supplies wholly/partly exempt from CGST [Section 11(1) of CGST ACT]

Notification No. 05/2018 - Central Tax (Rate) dated 25-01-2018 [Grant of license or lease to explore or mine petroleum crude or natural gas by CG wholly exempt]