{"id":554830,"date":"2023-02-10T15:54:47","date_gmt":"2023-02-10T10:24:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=554830"},"modified":"2023-02-10T15:54:47","modified_gmt":"2023-02-10T10:24:47","slug":"gail-signs-advance-pricing-agreement-with-cbdt","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gail-signs-advance-pricing-agreement-with-cbdt\/","title":{"rendered":"GAIL signs advance pricing agreement with CBDT"},"content":{"rendered":"<p>State-owned GAIL (India) Ltd has signed an advance pricing agreement with the Central Board of Direct Taxes (CBDT) for determining the transfer pricing margin payable on the long-term LNG the firm sources from the US. The pact was signed by Rasmi Ranjan Das of CBDT and R K Jain, Director (Finance), GAIL, the company said in a statement.<\/p>\n<p>&#8220;GAIL and CBDT entered into a landmark advance pricing agreement (APA) for determining the transfer pricing margin payable on its long-term LNG sourcing contract from USA for the period of five years,&#8221; it said.<\/p>\n<p>&#8220;The APA scheme enhances the government&#8217;s goal of promoting a non-adversarial tax system and improve the ease of doing business in India.&#8221;<\/p>\n<p>The gas utility firm has contracts with the US suppliers to buy 5.8 million tonne per annum of liquefied natural gas (LNG).<\/p>\n<p>GAIL is the first PSU in the oil and gas sector in India to sign the APA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned GAIL (India) Ltd has signed an advance pricing agreement with the Central Board of Direct Taxes (CBDT) for determining the transfer pricing margin payable on the long-term LNG the firm sources from the US. The pact was signed by Rasmi Ranjan Das of CBDT and R K Jain, Director (Finance), GAIL, the company said in a statement. &#8220;GAIL and CBDT entered into a landmark advance pricing agreement (APA) for determining the transfer pricing margin payable on its long-term LNG sourcing contract from USA for the period of five years,&#8221; it said. &#8220;The APA scheme enhances the government&#8217;s goal of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-554830","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/554830","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=554830"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/554830\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=554830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=554830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=554830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}