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GST: E&P industry to be hit hard
Apr 05:   The introduction of GST is going to hurt the E&P industry hard
The following adverse impact has been tabulated:
8GST on import of goods
8Addtional tax on offshore LSTK contracts
8Increase in GST rate on input services of ONGC
8Additional Stranding of taxes on inter-sate purchases
8More tax on domestic purchases of goods under ICB
8Non-availability of credit on local purchases
8Additional burden on stock transfer
8Dual compliance regime
Click on Reports to find out more on how you as a buyer or supplier of equipment and services are going to be hit


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