105. Special provision for retrospective exemption from service tax on Government’s share of profit petroleum.
(1) Notwithstanding anything contained in section 66B of Chapter V of the Finance Act, 1994 (32 of 1994), as it stood prior to its omission vide section 173 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Chapter), no service tax, leviable on the consideration paid to the Government in the form of Government’s share of profit petroleum, as defined in the contract entered into by the Government in this behalf, shall be levied or collected in respect of taxable services provided or agreed to be provided by the Government by way of grant of license or lease to explore or mine petroleum crude or natural gas or both, during the period commencing from the 1st day of April, 2016 and ending with the 30th day of June, 2017 (both days inclusive).
(2) Refund shall be made of all such service tax which has been collected, but which would not have been so collected, had sub-section (1) been in force at all material times:
Provided that an application for the claim of refund of service tax shall be made within a period of six months from the date on which the Finance Bill, 2018 receives the assent of the President.
(3) Notwithstanding the omission of the said Chapter, the provisions of the said Chapter shall apply for refund under this section retrospectively as if the said Chapter had been in force at all material times.
Notes on Clauses:
Clause 105 of the Bill seeks to provide retrospective exemption from service tax on provision of services by way of grant of licence or lease to explore or mine petroleum crude or natural gas or both, from so much of the service tax as is leviable on the consideration paid to the Government in the form of Government's share of profit petroleum, as defined in the contract entered into by the Government in this behalf, during the period from the 1st day of April, 2016 to the 30th day of June, 2017.
