GAIL signed second Unilateral Advance Pricing Agreement with CBDT
This agreement will be in effect for a period of five years, from FY 2024-25 to 2028-29, with a rollback period from FY 2022-23 to 2023-24.
GAIL (India) Limited inked its second Unilateral Advance Pricing Agreement (APA) with the Central Board of Direct Taxes (CBDT). This APA governs the Transfer Pricing Margin applicable to GAIL’s long-term Liquefied Natural Gas (LNG) sourcing contract from United States of America through its Associated Enterprise. This agreement will be in effect for a period of five years, from FY 2024-25 to 2028-29, with a rollback period from FY 2022-23 to 2023-24.
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The agreement reaffirms our commitment to tax transparency, certainty, and compliance. Securing another APA strengthens our strategic approach to transfer pricing and ensures alignment with regulatory frameworks, reinforcing our dedication to long-term growth and governance excellence.
The APA is formally signed by Sh. Vinay Kumar Singh, Joint Secretary, FT & TR-1, CBDT, and Sh. Sashi Menon, Executive Director (Finance & Accounts), GAIL
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