GSPC(JPDA) Ltd . In re
Date: September 6, 2021
Subject Matter
Payment of settlement fees against demand made by foreign entity attracts GST under RCM
Summary
Q. Whether payment of settlement fees against demand made by Autoridade Nacional do Petroleo E Minerais (ANP) vide letter dated 15.07.2015 attract levy of GST under GST regulations. A. GSPC (J) is liable to pay IGST, vide Reverse Charge Mechani…
The applicant M/s. GSPC(JPDA)LTD., has submitted that petroleum existing within the Joint Petroleum Development Area(JPDA) is a resource exploited jointly by Timor-Leste and Australia; that the applicant along with other concessionaries entered into Production Sharing Contract(PSC) dated 15th November, 2006 with Timor Sea Designated Authority for undertaking the exploration activities in the Block…