Petroleum & Natural Gas Regulatory Board (PNGRB) has levied a ‘turnover’ tax on the revenues that companies will earn from retailing CNG and natural gas in cities.
As per the Gazette notification, PNGRB has asked entities to pay:
* Rs. 2 crore for turnover of up to Rs 20,000 crore under the head ‘other charges’.
For a turnover of up to Rs. 50,000 crore it has levied Rs. 2 crore plus 0.008% of revenues in excess of Rs. 20,000 crore.
* A turnover up to Rs. 1, 00,000 crore it will charge Rs. 4.4 crore plus 0.005% of revenues more than Rs. 50,000 crore.
Besides this, 0.2% of capital expenditure during construction period will be payable by entities.
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