Notification No. 5/2018 – Central Tax (Rate): Seeks to exempt Central Government’s share of Profit Petroleum from Central tax

Important Keyword: F. No.354/13/2018 -TRU, Notification No. 5/2018 – Central Tax (Rate), Section 11(1) CGST Act 2017.

[F. No.354/13/2018 -TRU]
Government of India
Ministry of Finance
(Department of Revenue)

New Delhi, the 25^th January, 2018

Notification No. 5/2018 – Central Tax (Rate)

GST: [TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

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

Read More: Notification No. 16/2018 – Central Tax (Rate) GST: Seeks to amend notification No. 14/2017- Central Tax (Rate) to notify that services by way of any activity in relation to a function entrusted to a municipality under Article 243W shall be treated neither as a supply of good nor a service.

Web Stories: Notification No. 16/2018 – Central Tax (Rate) GST: Seeks to amend notification No. 14/2017- Central Tax (Rate) to notify that services by way of any activity in relation to a function entrusted to a municipality under Article 243W shall be treated neither as a supply of good nor a service.

Download Pdf: https://taxinformation.cbic.gov.in/