Central Tax Notifications (Rate)
CGST Notification rate 05/2018
| Title | Seeks to exempt Central Governments share of Profit Petroleum from Central tax |
| Number | 05/2018 |
| Date | 25-01-2018 |
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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.