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SEP 19 2016

Mahanagar Gas increases prices of CNG, PNG

  • Economic Times, ET Bureau / Hyderabad
  • Created: Mon 19th SEP 2016

 

Mahanagar Gas Ltd (MGL) has revised its rates for compressed natural gas (CNG) and domestic piped natural gas (PNG) upwards from today after the Maharashtra government hiked VAT by 1% to 13.5%.

MGL supplies CNG to 4 lakh vehicles, including public transport and BEST buses and piped gas to 8 lakh households in Mumbai. In view of increase in VAT rates from 12.5% to 13.5% by the Maharashtra government from 17 September, MGL is constrained to revise its CNG and domestic piped gas prices to the extent of revised tax implication, a company statement said.

Accordingly, revised prices of CNG and domestic PNG in Mumbai effective from Sunday, will be Rs41.57/kg and Rs24.93 per unit (scm) respectively, it added. As per the release, this price reduction is also being effected in the municipalities adjoining Mumbai after factoring in implications of local municipals octroi/LBT and/or cess rates.

Revised prices (inclusive of local taxes) of CNG shall be in the range of Rs41.57 per kg to Rs42.32 per kg and of domestic PNG shall be in the range of Rs24.93 per scm to Rs25.01 scm in the areas/municipalities adjoining Mumbai.

Tags

Maharashtra Bombay Electricity Supply and Transport Gas Natural Gas CNG Tax Mumbai Suryalakshmi Cotton Mills AP

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