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Oil And Gas

AP may reduce VAT on natural gas

8/24/2009 4:49:00 PM

Hyderabad, Aug (EPC News): The Andhra Pradesh Chief Minister, Dr Y S Rajasekhara Reddy, has agreed in-principle to reduce VAT on natural gas sales from the present 12% to 4%.

This move follows a meeting the Chief Minister had with the Chairman of Petroleum and Natural Gas Regulatory Board (PNGRB), L Mansingh. It is learnt that the latter advised Dr Reddy to consider reduction in VAT rate. Dr Reddy and the Board Chairman discussed issues relating to gas distribution through a pipeline grid and status of the bidding process.

Mansingh told the Chief Minister that the bidding process for gas distribution from the Krishna-Godavari basin will begin soon and the entire process of distribution of gas from the basin to homes could potentially take about five years.

Mansingh and his team made a detailed presentation on city gas distribution road map and approach and the move to create a natural gas pipeline network for supply of gas for domestic use and industries. The regulator wanted the State to identify the areas around cities in the State suitable and economically viable to distribute gas.