NEW DELHI: Importers of India has asked federal government to exempt natural gas from customs duty. “The new government has pursued pro-growth initiatives and we expect the 2015 budget to continue in this vein to further boost the economy and restore investor confidence,” they said.
“We await the passage of the GST Bill and its implementation to include all petroleum products viz. Crude Oil, Motor Spirit, Aviation Turbine Fuel, High Speed Diesel, Natural Gas, LNG (including LNG regasification Services) which will go a long way in streamlining the economy and introduce efficiencies which will contribute to GDP growth. As in the case of petrol, the inclusion of Excise duty on branded diesel would help reduce the cascading effect on the economy and reduce the burden on the consumers” they said.
The proliferation of Natural Gas (including LNG) is limited due to the current taxes structure that adds costs and tests the affordability limits of the customer.
