International Research Journal of Engineering and Technology (IRJET) Volume: 10 Issue: 04 | Apr 2023
www.irjet.net
e-ISSN: 2395-0056 p-ISSN: 2395-0072
Evaluation of profit and loss occurs to Government by imparting Goods and Services Tax on Compressed Natural Gas Miss. Deepthi B.R
Dr. Regi Kumar V.
MTech scholar,dept.of Mechanical Engineering College of Engineering Trivandrum Thiruvananthapuram, India
Professor, dept.of Mechanical Engineering College of Engineering Trivandrum Thiruvananthapuram, India
----------------------------------------------------------------------***------------------------------------------------------------------under pressure so that more of it occupies lesser volume Abstract—On 1st of July 2017, Goods and Services
in your fuel tank. CNG is compressed to a pressure of 200 to 250 kg/cm2. In this compressed form, it occupies less than 1 per cent of its volume at atmospheric pressure. CNG differs from Liquefied Petroleum Gas (LPG) in its constituents. CNG is gaseous, consisting of about 80 to 90 per cent methane, whereas LPG is a liquid, consisting of a compressed mixture of propane and butane in liquid form.
Tax (GST) was launched by Government of India after many deliberations. GST was implemented with a motive of converting multiple taxes into a single tax would be very useful. In India petroleum products, alcoholic drinks and electricity are not considered under GST regime. Studies on petrol and diesel have already done, but the impact of GST on Compressed Natural Gas (CNG) has not yet done. The consumption rate of CNG in India has grown 3.3 % in 2021-22. Also in consumption of CNG, India stands within 14 globally. The study mainly focused on variations in prices of CNG and the main aim is to identifying the effect of GST on CNG if decided to let it under GST regime. So, the first objective of this study is to analyze the current trends and variation in price of CNG and to analyze the price effect of CNG after implementing GST. Second objective is to quantify the customer benefit on CNG price by implementing GST and to conduct a cost benefit analysis of GST implementation for different stakeholders. The analysis will give a clear idea about the benefits and losses occurred to government and consumers while implementing GST. Keywords—GST implementation, stakeholders, CNG price analysis.
benefits
CNG has following advantages: It is green fuel, safe fuel and it has high auto ignition temperature, low operational cost, dual facility, increased life of oils.
II. OBJECTIVES To study the impact of GST on CNG, first we want to study the current trends of CNG on selected period. Then the pre and post GST price variation is study. The impact of GST on different stakeholders is analyzed. In order to support this we are analyzing the price variation CNG with respect to natural gas price. To quantify the loss and benefits occurred to government.
III. LITERATURE REVIEW In the paper titled "Technical overview of compressed natural gas (CNG) as a transportation fuel," Muhammad Imran Khan examines the history, potential, and difficulties of natural gas fuel and vehicles that run on it around the world, as well as the environmental and financial implications. Technical features of compressed natural gas qualities, storage issues, safety issues, and its impact on engine performance, efficiency, and emissions are covered in detail, as well as any obstacles to the adoption of natural gas automobiles. The economic, emission performance and safety aspects have been chosen as the major indicators for the comparative evaluation of natural gas as a fuel for vehicles. The findings indicated that CNG offers a number of advantages over diesel and petrol fuel, including significant cost and pollution savings.
of
I. INTRODUCTION The awareness of moving towards GST was proposed in the Budget speech for 2006-07 by the Union Finance Minister. In the field of indirect tax reforms in India, the introduction of the Goods and Services Tax (GST) is a very substantial step. The ill effects of cascading or double taxation in India will diminish through the implementation of GST as it integrates a several number of taxes of both central and State to unite into a single tax and overlay the way for a common national market. Compressed Natural Gas (CNG) is an environmentfriendly alternative automotive fuel. The cleaner fuel plays an important role in reducing vehicular greenhouse gas emissions and environmental pollution significantly. As its name suggests, CNG is natural gas compressed © 2023, IRJET
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