Goods and service tax is a big platform to showcase the original Indian economy with a pinch of its various underground resources at once. But the regime is still not intact with the major reason to flourish one of its kind natural gas resource on a full swing level. Even various highly ranked officers tried to pull this scenario into the eyes of GST council and now the reputed Executive of Gas Authority of India Limited (GAIL), B C Tripathi looked for waiver of customs duty on LNG and raised his voice for getting “natural gas” into GST fold, roaring that India urgently requires “a very much made incorporated vitality strategy” without which, it can’t move towards gas based economy and barely make an exceptional desire and compulsion for major utilization of natural gas.
Mr. Tripathi said that, “No country in the world, barring the USA, created a national gas grid entering into partnership arrangement and that it has been done by the national oil companies on their own and therefore, if an assured ROR of 12% is guaranteed to us, GAIL can connect India with such a network including northeast and Tripura.”. “Natural gas sector has not been able to realize its full potential until now due to apathetic government policies including multiple stiff taxation on it like excise, VAT, octroi and other such local levies and therefore, it needs to be subsumed in GST regime with new integrated energy policy in place which can offer a preferential treatment for natural gas,” he added.
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Mr. Tripathi likewise included that GAIL its own particular manner would advance crusade, for example, “Swachh Bijlee” for cleaner condition on lines of natural gas which is totally a cleaner fuel for mass utilization and has officially set-up a Start-up store of Rs 100 crore to advance development in the field of natural gas motors. The CMD likewise felt that special treatment for the natural gas segment has turned out to be important to deliver clean vitality by emptying in gigantic ventures into it instead of restoring the resigned thermal power plants with extra speculations which could nor be cost focused and keep on betting the contamination and poisons that emerge out of them.
Introducing a Convention on “India Moving Towards Gas Based Economy-Roadmap Ahead” under aegis of Ph.D. Chamber of Commerce and Industry, Mr. Tripathi demanded that “a guaranteed rate of return of 12 percent is fundamental for GAIL on its ventures to interface whole India with gas pipeline arrange without going into any association alliance to finish the target.
Talking about the event, Director Finance, Petronet LNG, Mr. R K Garg, however, invited decreasing customs duty on LNG by half, in any case, felt that in perspective of its business hugeness, the duty on it ought to have been conveyed to zero percent. President, Ph.D. Chamber, Mr. Gopal Jiwarajka in his comments guaranteed that all worries and guide proposed by Mr. Tripathi for the change of natural gas area will be taken to the most elevated amount of approach making by the Ph.D. Chamber as the recommended proposition mooted by GAIL are completely supported for the advancement of natural gas.
