The International Financial Services Centres Authority (IFSCA) on January 08, 2026, issued a notification regarding the Operating Lease of Oilfield Equipment recognised as a Financial Product.
The following has been stated: -
•The International Financial Services Centres Authority (IFSCA) has notified that operating leases, including hybrid operating–financial leases, of oilfield equipment are treated as financial products.
•This notification is issued under Section 12 of the IFSCA Act, 2019, read with the Ministry of Finance notification dated December 14, 2021.
•“Oilfield equipment” refers to goods listed in Notification No. 3/2017–Central Tax (Rate) dated June 28, 2017.
•The term “oilfield” has the same meaning as defined under the Oilfields (Regulation and Development) Act, 1948.
This notification shall come into force on January 09, 2026.
The detailed notification is given in the document below.
[Notification No.: F. No. IFSCA/GN/2026/001]
