The Petroleum and Natural Gas Regulatory Board (PNGRB) has issued guidelines with respect to the levy of fees and other charges. Accordingly, the board has fixed an application fee of Rs 300,000 for seeking authorisation or renewal of authorisation for a Gas Exchange with clearing corporation; or for a Gas Exchange without clearing corporation; or for a clearing corporation.
Further, another annual charge to the tune of Rs 200,000 or 0.02 per cent of the trade value in the exchange (excluding taxes) during the relevant financial year, whichever is higher, will be levied with effect from the date of authorisation granted to it by PNGRB. Accordingly, the trade value in the exchange will be worked out by considering only one part of the transaction (either to buy or to sell) and not the sum of value of buy and sell transaction. The clearing value in the case of clearing corporation will be the amount cleared i.e. the amount received or the amount disbursed and not the sum of amount received and amount disbursed.
Any entity liable to pay other charges or late payment surcharge in accordance with the sub-regulations will submit the details of remittance in Form-I of the regulations, within seven days of making such payment and any entity liable to pay other charges or late payment will submit details of remittance in Form-II of the regulations, within seven days of making such payment.Click here to download