Goods and Services Tax in the Context of Petroleum and Natural Gas
Publication date
जन, 2011Details
Report submitted to the Petroleum Federation of IndiaAuthors
R. Kavita Rao, Sacchidananda MukherjeeAbstract
The study analyses the impact of keeping crude petroleum, natural gas, motor spirit, high speed diesel and aviation turbine fuel out of the Value Added Tax (VAT) scheme. Specifically, the study finds that keeping these items out of the input tax credit mechanism (either partially or fully) would have high distortionary effects. It proposes more appropriate method of taxing petroleum products under the Goods and Services Tax regime.