{"id":394398,"date":"2021-01-11T09:09:25","date_gmt":"2021-01-11T03:39:25","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=394398"},"modified":"2021-01-11T10:33:16","modified_gmt":"2021-01-11T05:03:16","slug":"bring-natural-gas-under-gst-to-push-for-gas-based-economy-industry","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bring-natural-gas-under-gst-to-push-for-gas-based-economy-industry\/","title":{"rendered":"Bring natural gas under GST to push for gas-based economy: Industry"},"content":{"rendered":"<p>The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister Narendra Modi&#8217;s vision for a gas-based economy and raising the share of the environment-friendly fuel in India&#8217;s energy basket, the industry has said. <\/p>\n<p>Natural gas is currently outside the ambit of GST, and existing legacy taxes &#8212; central excise duty, state VAT, central sales tax &#8212; continue to be applicable on the fuel. <\/p>\n<p>&#8220;Non-inclusion of natural gas under GST regime is having adverse impact on its prices due to stranding of taxes in the hands of gas producers\/suppliers and is also impacting natural gas-based industries due to stranding of legacy taxes paid on it,&#8221; the Federation of Indian Petroleum Industry (FIPI) said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister Narendra Modi&#8217;s vision for a gas-based economy and raising the share of the environment-friendly fuel in India&#8217;s energy basket, the industry has said. Natural gas is currently outside the ambit of GST, and existing legacy taxes &#8212; central excise duty, state VAT, central sales tax &#8212; continue to be applicable on the fuel. &#8220;Non-inclusion of natural gas under GST regime is having adverse impact on its prices due to stranding of taxes in the hands of gas producers\/suppliers and is also impacting [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-394398","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=394398"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394398\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=394398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=394398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=394398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}