If natural gas is included, the GST paid on inputs and services used for producing natural gas can be set off against taxes on its sale. (Shutterstock)The stranded gas-based power plants in the country could get some relief if natural gas is brought under the GST, a parliamentary panel said. Coal is under the GST with a 5 per cent tax, while natural gas is outside the GST. The committee, therefore, recommended that “natural gas should be brought under the GST, so that the taxes get rationalised and gas becomes cheaper and affordable,” the report said. If natural gas is included, the GST paid on inputs and services used for producing natural gas can be set off against taxes on its sale.

Source: The Telegraph January 04, 2019 19:30 UTC