GAIL India signs advance pricing agreement with CBDT
GAIL signed APA with CBDT, a scheme aims to enhance the governments goal of promoting a non-adversarial tax system and improving the ease of doing business in India.
State-owned GAIL (India) Ltd has signed an advance pricing agreement (APA) with the Central Board of Direct Taxes (CBDT) for determining the transfer pricing margin payable on the long-term LNG the firm sources from the US. This is for the first time a public service unit signed APA in Oil and Gas sector.
“GAIL is the first PSU in the Oil & Gas sector in India to successfully sign the APA. The APA was signed by Joint Secretary, FT & TR-1, CBDT Sh. Rasmi Ranjan Das and Sh. R.K. Jain, Director(Finance) GAIL,” tweeted GAIL . The pact was signed by Rasmi Ranjan Das of CBDT and R K Jain, Director (Finance), GAIL, the company said in a statement.
Click Here For Latest Updates On Stock Market | Zee Business Live
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.