India Signals GST Rethink on 18% Bunker Sales Tax

by Ship & Bunker News Team
Monday October 9, 2017

Authorities in India have signalled a rethink over an 18 percent tax on bunker fuel sales introduced in July as part of the country's GST tax reform.

As Ship & Bunker previously reported, the surprise inclusion of the tax on bunkers caused marine fuel sales in the country to fall some 90 percent. 

But authorities said Friday that a number of sectors in the country would see changes to their GST classification, and bunker fuel is expected to see its GST rate reduced to 5%.

Trade sources told Ship & Bunker they are now awaiting an official circular from India's GST Council confirming the move, which is expected this week.

It is widely expected that bunker sales in the country will rebound as a result.

Ship & Bunker News Team
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