India cuts GST tax on biodiesel for blending

India has reduced the goods and services Tax (GST) on biodiesel supplied to oil marketing companies (OMCs) for blending with a view to incentive biofuel production, but market participants suggest the impact could be limited.  The GST on biodiesel for diesel blending will be reduced to 5pc from 12pc, from 1 October, the finance ministry said. "This decision will enable faster transition to gr…