GAIL signed Advance Pricing Agreement with the CBDT

GAIL (India) Limited and the Central Board of Direct Taxes (CBDT) have entered into a landmark advance pricing agreement (ArA) for determining the transfer pricing margin payable on its long-term LNG sourcing contract from USA for the period of five years.

The AP A Scheme enhances the government's goal of promoting a non-adversarial tax system and improve the ease of doing business in India. GAIL is the first PSU in 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(lndia) Limited.

Shares of GAIL (India) Limited was last trading in BSE at Rs. 95.75 as compared to the previous close of Rs. 95.85. The total number of shares traded during the day was 392886 in over 2907 trades.

The stock hit an intraday high of Rs. 96.20 and intraday low of 94.85. The net turnover during the day was Rs. 37470256.00.

Source : Equity Bulls

Keywords

GAILIndia INE129A01019 CBDT AdvancePricingAgreement LNGSourcing