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Workshop on Impact of GST on Oil & Gas Sector

PetroFed organised a workshop on the impact of Goods & Services Tax (GST) on the Oil and Gas Sector in association with its knowledge partner, EY on July 12, 2016 at New Delhi. The workshop was organized primarily with the objective of understanding the challenges the industry would face with the implementation of GST in its current form. The issue seemed even more relevant with the government planning to implement the GST Law with effect from April 2017. The model GST law has been released on June 14, 2016 and is very much expected to dominate the scene in the monsoon session.

Mr Abhishek Jain, Tax Partner, Indirect Tax Services, EY made a lucid presentation covering various issues the new GST law will throw up before the Oil & Gas sector. This was followed by a panel discussion with eminent members from the industry – Sh. V. S. Krishnan, former CBEC Member Service Tax; Sh A.K. Sharma - Director (F) IOC; Sh. R.K. Garg - Director (F) PLL; Ms Bela Mao - Tax Director, Shell; Sh. R. Ganapathi Subramanian, Sr. VP Tax, RIL and Sh. Kartikeya Dube- Tax Director, BP. The Panel discussion was moderated by Mr. Harishankar Subramaniam, Tax Partner & National Leader, Indirect Tax Services, EY. The panel discussion invoked an intense debate and provided an excellent opportunity to all the participants to raise their queries and seek clarification from the experts.

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Ms. Kaushiki Sinha Ray, Senior Asst. Director(Economic Research), PetroFed anchoring the workshop.

Mr. Rajiv Bahl, Director(Finance, Taxation & Legal), PetroFed welcoming the participants.

Mr. Harishanker Subramaniam, Tax Partner & National Leader, Indirect Tax Services, EY setting the context of the discussions.

Mr. Abhishek Jain, Tax Partner – Indirect Tax Services, EY making his presentation on GST implications.

Panel Discussion.(L-R)Sh. R.K. Garg - Director (F) PLL; Ms Bela Mao - Tax Director, Shell; Mr. Harishanker Subramaniam, Tax Partner & National Leader, Indirect Tax Services, EY; Sh. V. S. Krishnan, former CBEC Member Service Tax; Sh A.K. Sharma - Director (F) IOCL; Sh. R. Ganapathi Subramanian , Sr. VP Tax, RIL and Sh. Kartikeya Dube- Tax Director, BP.

A section of participants
Sh. Kartikeya Dube- Tax Director, BP responding to a query.
Sh A.K. Sharma - Director (F) IOCL giving his perspective.
Ms Bela Mao - Tax Director, Shell answering a query.
Sh. R.K. Garg - Director (F) PLL raising a point.

Sh. V. S. Krishnan, former CBEC Member Service Tax summarising the discussion.

Group photograph.