India’s Goods and Services Tax is bad news for gas19 June 2017
India’s Goods and Services Tax (GST) will go live on 1 July, but the exclusion of certain oil- and gas-related products – and the inclusion of competing fuels such as coal and fuel oil – is expected to have adverse consequences for the gas industry.
The GST is a nationwide levy that subsumes a large web of local, state and central taxes into one consumption-based indirect tax. States in India lobbied hard to keep petroleum products out of the GST, citing loss of revenue if they were to cede the power to tax such commodities to the central government.
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