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