Print

Finance and Taxation Recommendations

  1. Submitted to JS - TRU 1, CBEC in June 2017 on Amendments to Excise Notifications - Exemption from excise duty on Ethanol Blended Motor Spirit and Blend of High Speed Diesel & Bio-Diesels
  1. Submitted to Cheif Commisionar (AR), CESTAT in June 2017 on 'GST on Liquefied Petroleum Gas
  1. Submitted to Joint Secretry (Exploration), MoP&NG in June 2017 on 'GST and concerns of the oil industry'
  1. Submitted to Tax Research Unit, CBEC in May 2017 on 'Service tax on transportation of goods by cessel by foreign shipping lines'
  1. Submitted to Cheid Commissioner (AR), CESTAT in May 2017 on 'GST and the concerns of Oil & Gas sector'
  1. Submitted to Revenue Secretary, Ministry of Finance in April 2017 on 'GST and the concerns of Oil & Gas sector'
  1. Submitted to Chief Commissioner (AR), CESTAT in April 2017 on 'Constitution of GST Working Group to address the concerns of the Trade and Industry'
  1. Submitted to Secretary, MoP&NG; Revenue Secretary, Ministry of Finance; in February 2017 on 'Oil & Gas Industry fiscal issues'
  1. Submitted to Secretary, MoP&NG; Revenue Secretary, Ministry of Finance; in January 2017 on 'GST - Inclusion of Petroleum and Hydrocarbon Industry'
  1. Submitted to Secretary, MoP&NG in December 2016 on 'Price Review of Natural Gas produced domestically from existing field'
  1. Submitted to Revenue Secretary, Ministry of Finance in December 2016 on 'OID Cess on Indigenous Crude Oil'
  1. Submitted to Member (CBEC), Department of Revenue, Ministry of Finance in December 2016 on 'Exice Duty on Branded HSD - Pre-Budget Memorandum 2017-18'
  1. Submitted to Joint Secretary, Prime Minister's Office in November 2016 on 'Service Tax on Royalty & GST'
  1. Submitted to Chairman, CBEC in September 2016 on Subsuming CST to GST
  1. Submitted to Secretary, MoP&NG; Chairman, CBEC, Ministry of Finance and Secretary (Revenue), Minsitry of Finance in July 2016 on Constitution Amendments and GST Bill
  1. Submitted to Additional Secretary & Finance Advisor, MoP&NG in June 2016 on Clarification on Non-applicability of Service Tax on Transactions between UJV under PSC and its members for Petroleum Operations
  1. Submitted to Member, CBEC in June 2016 on Levy of Service Tax on Royalties
  1. Submitted to Joint Secretary (TRU-I), Ministry of Finance and Additional Secretary & Finance Advisor, MoP&NG in May 2016 on Incidence of Double Duty Taxation on Auto Fuels from SEZ Refinery
  1. Submitted to Secretary, MoP&NG and Revenue Secretary, Ministry of Finance in May 2016 on Service Tax on Services provided by the Government or Local Authorities to business Entities
  1. Submitted to Secretary, MoP&NG and Revenue Secretary, MoF in February, 2016 and September, 2015 for reduction in OID Cess on Crude Oil produced in India in view of falling crude oil prices and levying it on ad-valorem basis.
  1. Submitted to Secretary, MoP&NG in January 25, 2016 expressing apprehension on re-introduction of Customs duty on crude oil
  1. Submitted to Secretary, MoP&NG and Revenue Secretary, MoF for reduction of cess on Crude Oil and utilisation of additional Excise on Petrol & Diesel for development of oil industry in January 05, 2016.
  1. Submitted a Comments/ Recommendation on the draft specification of commercial gasoline and diesel to Ministry of Road Transport and Highways in December 26, 2015.
  1. Submitted to MoP&NG on Auto Fuel Policy - Specification of BS V Diesel to December 17, 2015
  1. Submitted to Secretary, MoP&NG and Revenue Secretary, MoF in September 2015 for reduction in OID Cess on Crude Oil produced in India in parity with prevailing crude oil prices and levying it on ad valorem basis.
  1. Submitted to the Ministry of Corporate Affairs and the Institute of Chartered Accountants of India for carve outs in AS-2 on Valuation of Inventories because of fluctuating crude oil prices in April 2015.
  1. Comments/Suggestions on the process of determination of premium on the gas price to be given for discoveries in case of ultra deep water areas, deep water areas and high pressure high temperature areas on the basis of formula given in the Govt. of India notification regarding New Domestic Natural Gas Pricing Guidelines, 2014 sent to DG, DGH in January 2015.
  1. Submitted to DG, PPAC on Expert Group chaired by Dr. Kirit Parikh to advise on pricing methodology of Diesel, Domestic LPG and PDS Kerosene in August 2013.
  1. Submitted to Secretary, MoP&NG a detailed presentation on taxation issues affecting E&P sector in India in June 2013.
  1. Submitted to the Committee under the chairmanship of Dr. C. Rangarajan on PSCs in Hydrocarbon Exploration on Review of Design of Future PSCs and Review of Tax Aspects of Future PSCs. Recommendations were also sent on the Approach to Gas Pricing on the webhosted report of the Committee in 2012.