10% sales tax for Machinery, equipment and other capital goods meant for initial installation, balancing, modernization, replacement or expansion of oil refining (mineral oil, hydro- cracking and other value added petroleum products), petrochemical a
Name of Incentive
10% sales tax for Machinery, equipment and other capital goods meant for initial installation, balancing, modernization, replacement or expansion of oil refining (mineral oil, hydro- cracking and other value added petroleum products), petrochemical a
Type of Incentive
GST Incentive
Ministry
Agency
Sector
Oil & Gas Explorations
Sub Sector
Product/Activity
Incentive Details
Description
10% sales tax for Machinery, equipment and other capital goods meant for initial installation, balancing, modernization, replacement or expansion of oil refining (mineral oil, hydro- cracking and other value added petroleum products), petrochemical and petrochemical downstream products including fibers and heavy chemical industry, cryogenic facility for ethylene storage and handling.
Criteria for Consideration
Plant, machinery, equipment and apparatus, including capital goods, specified in Eighth Schedule, Table 2 (Annexure), falling under the HS Codes specified in column (3) of that Annexure, shall be charged to sales tax at the rate of ten percent subject to the following conditions, besides the conditions specified in column (4) of the Annexure
