Non-Fulfillment of Stipulated Event – No Service Tax Payable

B.G. Shirke Oil & Gas India Pvt Ltd Vs Commissioner of Central Tax Visakhapatnam – GST (CESTAT Hyderabad) The Hon’ble CESTAT, Hyderabad set aside the demand and allowed the appeals. It held: (i) there was no consideration paid by ONGC. There was no invoice. The appellant is engaged in mining of mineral, oil and gas. It was awarded a contract by ONGC for development, exploration and exploitation of KG basin. The contact provided for supply of petroleum products to ONGC. The contact provided that there would be no payment till supply of petroleum products. Revenue alleged that the co...