Special provision for retrospective exemption from service tax on Government’s share of profit petroleum.

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..... 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 .....

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..... on retrospectively as if the said Chapter had been in force at all material times. - 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 Gov .....

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