Union Territory Tax Notification (Rate) 05/2018 – Seeks to exempt Central Governments share of Profit Petroleum from Union Territory Tax

Union Territory Tax Notifications (Rate)

UTGST Notification rate 05/2018

In exercise of the powers conferred by sub-section (1) of section 8
of the Union Territory Goods and Services Tax Act, 2017 (14 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 Union territory 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.