GST to have negative impact on oil and gas industry

The Goods and Services Tax (GST) will adversely affect the oil and gas industry as the sector will have to comply with both the current tax regime and the GST framework, according to a report. The government is expected to roll out the GST, which will subsume 16 different taxes, from July 1, 2017. Next meeting of the GST Council is scheduled to be held on June 18, when it will take up lottery taxe…