HELP and OALP Policy Operations for Petroleum or Coal Bed Methane Exempted from BCD

[Notification No. 31/2019 –Customs dated 24 September 2019]

Seeks to amend notification No. 50/2017-Customs dated 30.06.2017, in order to exempt petroleum operations or coal bed methane operations undertaken under HELP and OALP

G.S.R. --(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of Customs Tariff Act, 1975 (51 of 1975), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide G.S.R. 785(E), dated the 30th June, 2017, in the said notification, in the Table, against S. No. 404, in column (3), after item (e), the following item shall be inserted, namely: -

“(f) petroleum operations or coal bed methane operations undertaken under specified contracts under the Hydrocarbon Exploration Licensing Policy (HELP) or Open Acreage Licensing Policy (OALP)”.

[F. No. 354/130/2019-TRU]