Components of the Production Sharing Contract are exempt from Service Tax: CESTAT grants Relief to Hardy Exploration and Production (India) Inc [Read Order]

CESTAT has held that “Cost Petroleum” and “Profit Petroleum” are inherent and embedded part of the Production Sharing Contract(PSC)

By Amal Michael - On February 1, 2024 7:33 pm - 3 mins read

Components - Production - Contract - exempt - service tax - CESTAT - Relief to Hardy Exploration and Production (India) Inc - taxscan

Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has held that Cost Petroleum and Profit Petroleum cannot be said to be a consideration flowing from the Government of India to the assessee and that the components of “Cost Petroleum” and “Profit Petroleum” are inherent and embedded part of the Production Sharing Contract( PSC…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1199 + GST for 1 year

Subscribe Now

Topics

Mr Vasa Seshagiri Rao production sharing contracts (PSCs)Service Tax Department Sulekha Beevi C.S