Bringing natural gas under GST will lead to faster adoption: Oil secy
Taxation on natural gas remains key to increasing the use of natural gas in the economy, and the government is 'cautiously optimistic' about bringing the fuel within the fold of the Goods and Services Tax (GST) regime in 2024-25, Petroleum Secretary Pankaj Jain said on Wednesday.
Speaking at an online seminar on India’s natural gas and LNG sectors by the International Energy Agency (IEA) and the Petroleum Ministry, Jain said bringing natural gas under the ambit of the GST regime would accelerate the shift towards natural gas.
"One big challenge for us continues to be the taxation on gas. Domestic taxes on natural gas are still a work-in-progress. That is affecting the use case for natural gas," Jain said.
