GAIL (India) Limited and the Central Board of Direct Taxes (CBDT) entered into a landmark advance pricing agreement (ArA) for determining the transfer pricing margin payable on its long-term LNG sourcing contract from USA for the period of five years. The AP A Scheme enhances the government's goal of promoting a non-adversarial tax system and improve the ease of doing business in India. GAIL is the first PSU in oil &
gas sector in India to successfully sign the APA.