{"id":394554,"date":"2021-01-11T12:15:45","date_gmt":"2021-01-11T06:45:45","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=394554"},"modified":"2021-01-11T13:28:29","modified_gmt":"2021-01-11T07:58:29","slug":"include-natural-gas-under-gst-to-push-for-gas-based-economy-industry-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/include-natural-gas-under-gst-to-push-for-gas-based-economy-industry-2\/","title":{"rendered":"Include 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\u2019s vision for a gas-based economy and raising the share of the environment-friendly fuel in India\u2019s energy basket, the industry has said.<\/p>\n<p>Natural gas is currently outside the ambit of GST, and existing legacy taxes \u2014 central excise duty, state VAT, central sales tax \u2014 continue to be applicable on the fuel. \u201cNon-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,\u201d the Federation of Indian Petroleum Industry (FIPI) said. In a pre-Budget memorandum to the Finance Ministry, FIPI, which boasts of members from across the oil and gas spectrum, <\/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\u2019s vision for a gas-based economy and raising the share of the environment-friendly fuel in India\u2019s energy basket, the industry has said. Natural gas is currently outside the ambit of GST, and existing legacy taxes \u2014 central excise duty, state VAT, central sales tax \u2014 continue to be applicable on the fuel. \u201cNon-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":[130,195,138],"tags":[],"class_list":["post-394554","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394554","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=394554"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394554\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=394554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=394554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=394554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}