Clarity on GST rate key likely to determine benefits for gas users

Gas utilities and  city gas distribution  (CGD) firms have done well over the last two days even as overall market sentiment has been weak. The optimism is driven by Prime Minister Narendra Modi’s statement that the government is looking to eliminate the cascading effect of different taxes on gas (across states) to reduce cost and increase usage. Currently, the value-added tax (VAT) in m…