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

Important Keyword: F. No.354/13/2018 -TRU, Notification No. 5/2018 – Union Territory Tax (Rate), Section 8(1) UTGST 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 – Union Territory 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 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.

(Ruchi Bisht)
Under Secretary to the
Government of India

Read More: Notification No. 27/2018 – Union Territory Tax (Rate): Seeks to amend notification No. 11/2017- Union Territory Tax (Rate) so as to notify UTGST rates of various services as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018.

Web Stories: Notification No. 27/2018 – Union Territory Tax (Rate): Seeks to amend notification No. 11/2017- Union Territory Tax (Rate) so as to notify UTGST rates of various services as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018.

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