Comments
Indraprastha Gas Limited has announced a cut of ₹ 3.15 a kilogram in the retail price of Compressed Natural Gas it supplies to Noida, Greater Noida and Ghaziabad.
The reduced price shall be applicable from midnight of March 22nd/23rd.
An IGL statement said, “The consumer price of CNG in these cities shall reduce tonight from existing ₹ 49.20 a kg to ₹ 46.05 a kg.”
The reduction is a result of a recent notification of Uttar Pradesh government to lower the Value Added Tax rate on CNG. “Since natural gas is out of the ambit of GST, therefore UP state VAT continues to be effective on purchases of natural gas within the state. Also, there is no input tax credit benefit on CNG in UP,” the statement added.
The Uttar Pradesh cabinet had lowered the VAT levied on CNG from 10 per cent to five per cent in January this year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.