Goods & Service Tax (GST) 29 July 2026
GST Waiver for Refinery
The Prime Minister has removed hurdles to the refinery policy by waiving the general sales tax on the import of plant, machinery and equipment required for the refinery, providing major relief to the industry. This move is expected to boost the industry and promote economic growth.
The Prime Minister has announced a general sales tax (GST) waiver on the import of plant, machinery and equipment required for the refinery.
This move is a major relief for the industry, as it will reduce costs and promote economic growth.
- The GST waiver will apply to all imports of plant, machinery and equipment required for the refinery,
- The move is expected to boost the industry and create new jobs,
- The refinery policy aims to promote investment and growth in the sector.
Need help understanding this update?
Connect with our domain experts instantly via WhatsApp for customized legal guidance.