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As states agree to cap VAT on natural gas at 5%

As states agree to cap VAT on natural gas at 5%

Friday, September 15, 2017, 6:53 AM

States have agreed to cap value-added tax (VAT) on natural gas at 5 percent and lower it on other petroleum products such as petrol and diesel used by the manufacturing sector as an input. That could mark a significant breakthrough toward uniform nationwide prices of petroleum goods. The Goods and Services Tax (GST) Council will take up the scheme once it is formulated by the states.
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