Author: admin_gst

Premature writ challenge to GST DRC-01A intimation rejected; department must first follow show cause adjudication and appeal process.
Case-Laws
GST
The HC held that a writ challenge to a GST DRC-01A intimation under Section 74(5) read with Rule 142(1A) was premature because the communication was only a pre-adjudication step. As no adjudication had yet occurred, and the proposed demand required factual examination including the special audit report, the dispute was not fit for writ interference. The department was directed to issue a show cause notice, grant a hearing, and pass a reasoned order. The petitioner may then pursue the statutory appellate remedy under Section 107 against the adjudicatory order, with all contentions left open.
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Article 22(2) challenge failed as arrest and magistrate production were found within the constitutional time limit.
Case-Laws
GST
Article 22(2) was not violated because the court found that arrest took place after completion of the search and statement recording, and production before the magistrate at 8.30 pm the same day remained within the 24-hour constitutional limit, even after accounting for medical examination time. The challenge to the arrest also failed because the grounds disclosed material from investigation showing involvement in an organised online gaming and shell-entity network alleged to have caused GST evasion under the CGST Act. The court accepted that the record showed prior summons, search action and non-cooperation, and held that the arrest was backed by sufficient material. Relief in writ jurisdiction was therefore declined.
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Mandatory hearing in refund proceedings required before rejection under Rule 92(3); curtailed reply period invalidates the order.
Case-Laws
GST
Rule 92(3) of the CGST Rules requires notice in Form GST RFD-08, a full fifteen days to reply in Form GST RFD-09, consideration of that reply, and an opportunity of hearing before refund rejection. The High Court held that curtailing the reply period to seven days, rejecting the claim the next day, and ignoring the petitioner's e-mail response breached the mandatory procedure. The rejection order was therefore unlawful and set aside. The proper officer was directed to issue fresh notice in conformity with Rule 92(3), consider the reply, grant a hearing, and pass a fresh order in accordance with law.
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GST budgetary support turns on parity with similarly situated units; verification ordered before extending corresponding benefits.
Case-Laws
GST
GST budgetary support under Notification No. 20/2007 was examined in light of the 22-02-2023 clarification and the earlier coordinate Bench view on similarly situated units. The Court noted that the exemption applied to units commencing commercial production by 31-03-2017 and that the petitioner's eligibility certificate reflected commencement after modernization from 30-03-2017. As the respondents did not dispute the coordinate Bench position, the Court did not decide entitlement on merits and instead directed verification of whether the petitioner stood on the same footing as the units covered by M/s Sai Enterprises and analogous matters. If parity is confirmed, the corresponding benefits are to be extended.
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Sanctioned GST refund cannot be withheld for administrative delay; balance refund and applicable interest must be paid.
Case-Laws
GST
A sanctioned GST refund of unutilised input tax credit could not be withheld because the balance remained unpaid due to revalidation and internal processing delays. The High Court held that an amount lawfully due could not be kept pending on account of administrative red tape, and that the authorities should have coordinated to complete disbursement. It accordingly directed release of the outstanding State tax refund with applicable interest under the GST enactments within 30 days.
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Brand name exemption upheld where rights were foregone and extended limitation under Section 74 was unsustainable.
Case-Laws
GST
Goods bearing a common pictorial representation and packaging features were held to fall within the amended definition of brand name, but the exemption under Serial Nos. 73 and 74 of Notification No. 2/2017-Central Tax (Rate), as amended, remained available because the petitioner had filed the prescribed affidavit voluntarily foregoing any actionable claim or enforceable right over the brand name and the department had treated the goods as unbranded. The corporate name printed on the package, being required under food and legal metrology laws, could not by itself defeat the exemption. The invocation of the extended period under Section 74 also failed, as the relevant facts were already disclosed to the department; only the normal period under Section 73 could apply. The issue of bunching multiple tax periods in one notice was left open.
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Input tax credit dispute remanded after factual claim was confirmed and prior orders were set aside.
Case-Laws
GST
The HC quashed the original and appellate orders under the CGST regime because a material factual claim regarding reversal and reclassification of input tax credit before the show cause notice had not been properly considered. The petitioner had raised the point earlier, but it was rejected for want of documentary support; however, the respondent later confirmed the correctness of that submission before the Court. On that limited basis, the Court held that the foundation of the impugned orders required reconsideration and remanded the matter to the adjudicatory authority for fresh decision expeditiously, leaving all merits open.
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Service of show cause notice is essential before ex parte adjudication; absence of proof of service vitiated the order.
Case-Laws
GST
Service of a show cause notice must be proved before ex parte adjudication can stand; where the record did not establish service on the assessee, the SC held that the order violated natural justice and set it aside on that limited ground, granting liberty to file a reply and permitting fresh adjudication. The Court, however, rejected the challenge that the notice was vague or issued without application of mind, holding that objection to be without merit and closed for the fresh proceedings. Only the reply to the notice, and any jurisdictional plea open on the record, could be considered by the assessing officer on remand.
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GST offences below the statutory threshold are non-cognizable and bailable, defeating anticipatory bail on arrest apprehension.
Case-Laws
GST
GST offences involving liability below the statutory threshold are treated as non-cognizable and bailable under Section 132 of the CGST/CGGST Act, 2017. The High Court noted that the proceedings against the applicant related to a GST liability of less than Rs. 5 crore and held that, on that basis, the alleged offence did not justify an apprehension of arrest. The plea for anticipatory bail under Section 482 BNSS was therefore found to be without merit and was rejected.
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Civil aviation ministry looks at multiple options to minimise West Asia crisis impact on airlines
GST
Dated:- 29-3-2026
PTI
New Delhi, Mar 29 (PTI) The civil aviation ministry is exploring multiple options to minimise the impact of the West Asia conflict on airlines, including engaging with state governments to cut taxes on jet fuel.

Indian airlines' operational costs are spiralling due to surging oil prices and airspace curbs in the wake of West Asia turmoil, involving the US, Israel and Iran, which began on February 28.

A highly placed source said the ministry was considering multiple options as part of larger efforts to reduce the impact of the West Asia conflict on the carriers.

Civil Aviation Minister K Rammohan Na

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cut the excise duty on petrol and diesel this week. The special additional excise duty on export of diesel and ATF has been hiked, a move aimed at prioritising their domestic availability.

According to the highly placed source, aviation watchdog DGCA is in touch with its counterparts in other countries on the evolving situation in West Asia.

On March 26, DGCA (Directorate General of Civil Aviation) chief Fiaz Ahmed Kidwai said airlines were facing big challenges and their operating costs were going up.

“… we hope we see better days,” he said and emphasised that the DGCA was trying to promote ease of doing business for airlines to help them grow and flourish, as well as taking steps for passenger rights. PTI RAM BAL BAL BAL

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HSNS Cess portal procedure sets out online registration, ERN generation, challan payment and tracking requirements.
Circulars
GST
HSNS Cess registration and payment are to be carried out through the CBIC taxpayer portal from 01.02.2026. New applicants must complete login, new registration, PAN validation, OTP verification and ERN generation, then file Form HSNS REG-01 with prescribed business, premises, promoter, authorised signatory and bank details, together with listed supporting documents. On successful submission, a temporary registration number is generated and used for payment. Monthly HSNS cess is to be paid electronically in Form HSNS PMT-01 by the 7th day of the relevant month through challan generation, ICEGATE payment, and challan tracking facilities.
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CM urges Odisha people to avoid panic buying, hoarding amid West Asia crisis
GST
Dated:- 28-3-2026
PTI
Bhubaneswar, Mar 28 (PTI) Odisha Chief Minister Mohan Charan Majhi on Saturday urged the people of the state to refrain from panic buying to keep the supply chain functioning smoothly amid the West Asia conflict.

He also lauded the Central government's move to cut excise duty on petroleum, terming it a “timely” and a forward-looking step that prioritises citizens and upholds the 'nation first' principle.

The government has slashed excise duty on petrol and diesel by Rs 10 per litre each, a move aimed at shielding domestic consumers from a surge in global oil prices triggered by the West Asia conflict, at an estimated reve

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e said the meeting focused on the 'Team India' spirit to overcome the challenges ahead, emphasising economic stability, proactive agricultural planning, and focused attention on border and coastal states for shipping and essential supplies.

Chairing the meeting on Friday night, Prime Minister Modi on Friday said the global situation arising out of the West Asia conflict remains dynamic, and asserted that maintaining economic and trade stability, ensuring energy security, strengthening industry and supply chains, and safeguarding citizens' interests remain the government's top priorities.

This was the first time that the prime minister held a meeting with the chief ministers on the West Asia conflict that started on February 28 with at

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CBIC organises outreach programme on Duty Deferment Scheme for Eligible Manufacturer Importers in New Delhi
GST
Dated:- 28-3-2026

CBIC Member (Customs), Delhi Chief Commissioner for Customs, Chief Commissioner, Delhi Customs (Preventive) Zone, and Chief Commissioner, DIC

 participate and deliberate on key benefits and modalities of scheme with trade bodies, industry and key stakeholders

In pursuance of the key trade facilitation initiative announced in the Union Budget 2026-27, the Central Board of Indirect Taxes & Customs (CBIC) organised a hybrid outreach programme in New Delhi on the Duty Deferment Scheme for Eligible Manufacturer Importers (EMI) in New Delhi, today.

Shri Yogendra Garg, Member (Customs), CBIC;

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compliance environment. Shri Garg also encouraged stakeholders to avail the benefits of the scheme and provide feedback.

Shri Manish Kumar highlighted that the scheme enhances the commercial viability of manufacturer importers by enabling better import scheduling and more efficient working capital management.

ABOUT THE EMI SCHEME

The EMI Scheme enables deferred payment of import duties, allowing eligible manufacturer importers to clear goods without upfront duty payment. Duties are to be paid on a monthly basis.

The scheme is inclusive and extends to MSMEs. It aligns with the Government's Make in India initiative and aims to strengthen domestic manufacturing by improving liquidity and expediting cargo clearance.

Key Benefits

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Statutory personal hearing under GST cannot be waived by form entry; failure to grant it vitiates the order.
Case-Laws
GST
Failure to grant the statutory personal hearing under Section 75(4) vitiated the proceedings, because a taxpayer's statement in Form GST DRC-06 that no hearing was required could not override the statutory mandate. Once the authority did not accept the reply, it was bound to afford the prescribed hearing opportunity and could not decide the matter on the first date fixed for hearing. As three opportunities of personal hearing were not granted, the order was held to breach both the statute and principles of natural justice. The HC quashed the order and remanded the matter for fresh adjudication after giving the required hearing.
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GST registration restoration after cancellation for non-filing of returns depends on filing pending returns and clearing dues.
Case-Laws
GST
GST registration may be cancelled for continuous non-filing of returns for six months, but the statutory scheme also permits restoration where the registered person files all pending returns and pays the outstanding tax dues with applicable interest, penalty and late fee. Given the civil consequences of cancellation, the Court directed the authorities to consider restoration applications in accordance with law once the prescribed compliance is made, and to take expeditious steps for reinstatement if the requirements of Rule 22(4) are satisfied.
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Natural justice breached when an order was passed before the hearing date, leading to quashing and remand.
Case-Laws
GST
The HC held that an order passed before the hearing date fixed in the show cause notice, and before receipt of the petitioner's representation, violated principles of natural justice because no effective opportunity of hearing was afforded. The impugned order was quashed on that limited ground, the matter was remanded for fresh consideration after giving the petitioner an opportunity to reply and be heard, and any recovery based on the quashed order was held not to survive.
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False plea of denial of personal hearing rejected after record showed hearing was granted; exemplary costs imposed.
Case-Laws
GST
A false allegation of breach of natural justice was rejected after the original record showed that the petitioner had in fact been personally heard by the appellate authority and had signed the proceedings. The discrepancy in the date recorded in the impugned order was treated as a clerical error, because the portal and the original order reflected the correct position. In view of the false statement made before the Court, the writ petition was not entertained and exemplary costs were imposed.
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Reasoned appellate orders must address appeal grounds and hearing rights; non-appearance alone cannot justify dismissal.
Case-Laws
GST
The HC held that an appellate authority must pass a reasoned order dealing with the grounds raised in the appeal memo, including objections based on natural justice and the request for personal hearing. Dismissing the appeal solely because the appellant was not personally present did not discharge that duty, especially where the appeal alleged breach of Section 75(4) and prejudice from administrative lapse. The appellate order was quashed and the matter remanded for fresh decision after giving an opportunity of hearing, with a direction to consider the grounds even if the appellant again does not appear.
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Andhra CM welcomes Centre's excise duty cut on fuel, lauds PM Modi
GST
Dated:- 27-3-2026
PTI
Amaravati, Mar 27 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday welcomed the union government's decision to cut excise duty on petrol and diesel, calling it a strong people-centric move.

The government slashed excise duty on petrol and diesel by Rs 10 per litre, averting retail price hike that had become necessary because of soaring global oil prices.

The chief minister said the decision would help shield the common man from global price volatility, noting that India is fortunate to have Prime Minister Narendra Modi providing stability amid challenging global conditions.

“The Union Government's decision today

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Excise duty cut on petrol, diesel; hike in export duties to cost exchequer Rs 5,500 cr in fortnight
GST
Dated:- 27-3-2026
PTI
New Delhi, Mar 27 (PTI) The excise duty cut on petrol and diesel by Rs 10/litre, and a hike in export duty on ATF and diesel will result in a net revenue loss of Rs 5,500 crore in a fortnight, a top official said on Friday said.

Central Board of Indirect Taxes and Customs (CBIC) Chairman Vivek Chaturvedi said the excise duty cut will result in a revenue loss of around Rs 7,000 crore, while the hike in special additional excise duty on export of diesel and ATF will fetch Rs 1,500 crore more in a fortnight.

After reduction in excise duty, the incidence of excise on petrol will be Rs 11.9 per litre (

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and ensuring prices do not rise for consumers on account of the ongoing crisis, he said.

“The situation is dynamic, it is not business as usual where you would have a predictability that certain metric tonne of goods will come. We are living in difficult times. Any (revenue) implication will have to factor in actual supply of goods coming into the country,” Chaturvedi said.

The excise duty cuts follow record losses that oil companies suffered from the surge in international oil prices. Prices of crude oil, the raw material for making petrol and diesel, have surged almost 50 per cent this month as the US and Israel attack on Iran and Tehran's sweeping retaliation disrupts global supply.

Despite oil prices rising above USD 100 per

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HIGHLIGHTS
GST
Dated:- 27-3-2026
PTI
New Delhi, Mar 27 (PTI) Following are the top stories at 5.10 pm: TOP STORIES DEL34 BIZ-3RDLD PETROL-EXCISE CUT (3.38 PM) Govt cuts excise duty on petrol, diesel; slaps windfall tax on fuel exports New Delhi: The government has slashed excise duty on petrol and diesel by Rs 10 per litre, averting a pump price hike that had become necessary because of soaring global oil prices.

FGN34 NEPAL-BALEN-2NDLD OATH (4.56 PM) Rapper-turned-politician 'Balen' sworn in as Nepal's 47th PM Kathmandu: Rapper-turned-politician Balendra Shah 'Balen,' took oath as Nepal's democratically elected prime minister on Friday, around six months after the K P Sharma Oli-led government was ousted in a Gen-Z protest that shook the nation. By Shirish B Pradhan LGD8 UP-HC-LIVE IN RELATIONSHIP (4.45 PM) Live-in relationship between married man, consenting adult woman not a crime: Allahabad HC Prayagraj: The Allahabad High Court has said that a mar

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ms govt New Delhi: The Congress on Friday alleged that the government's excise cuts on petrol and diesel were because of assembly elections and pointed out that consumer prices in India were not reduced even when global crude oil prices fell on seven different occasions in the past 12 years.

PAR15 LS-SULE-CRASH (4.08 PM) Supriya Sule raises Ajit Pawar plane crash in LS, seeks time-bound probe New Delhi: NCP-SP leader Supriya Sule on Friday demanded a time-bound probe into the plane crash that killed former Maharashtra Deputy Chief Minister Ajit Pawar and criticised the state government for not filing an FIR in the matter.

DEL45 DEF-CONTRACTS (4.20 PM) Govt inks twin defence deals worth Rs 858 crore New Delhi: The defence ministry on Friday signed a Rs 445 crore contract with Russia's Rosoboronexport for procurement of an air defence missile system for the Indian Army.

DEL27 DL-SONIA GANDHI-HOSPITAL (1.23 PM) Sonia Gandhi's health shows improvement, will be discharg

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es second list of party candidates for Apr 23 TN Assembly polls Chennai: The Opposition AIADMK in Tamil Nadu on Friday announced the second list of its party candidates for the April 23 Assembly election, retaining some of its MLAs.

DEL30 PREZ-ECONOMIC-POLICY (3.21 PM) 'Behind every statistic lies human story', economic policy should improve people's lives: Murmu New Delhi: Asserting that behind every statistic lies a human story, President Droupadi Murmu on Friday said that the true measure of economic policy is not merely in numbers, but in its outcome.

BOM9 MH-ZIRWAL-FADNAVIS (2.44 PM) Will take appropriate decision on Zirwal issue after verifying facts: Fadnavis (2.44 PM) Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Friday said an “appropriate decision” on minister Narhari Zirwal will be taken after verification of facts in connection with a viral video showing the NCP leader with a trans-person in a bedroom.

LEGAL BOM6 MH-HC-AMBANI-PIL (1.23 P

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Excise duty cut on petrol, diesel with eye on elections in four states: TMC member Saket Gokhale
GST
Dated:- 27-3-2026
PTI
New Delhi, Mar 27 (PTI) The excise duty cut on petrol and diesel has been done with an eye on the upcoming assembly elections in four states and not because the government cared for consumers, TMC Rajya Sabha member Saket Gokhale.

Participating in a discussion on the Finance Bill 2026 in the Upper House, Gokhale demanded an assurance from Finance Minister Nirmala Sitharaman that fuel prices will not be increased after April 29, when voting is completed in four states Assam, West Bengal, Tamil Nadu, and Kerala.

After the excise cut was announced, he said ministers of the government have been saying “since morning how the Modi government is taking a hit at its own resources, to its own revenues, instead of increasing petrol and diesel prices”.

“This is happening because four major states are going to elections. The only reason that this excis

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e rupee?” He further said, “That is the commitment that the finance minister should give today, that this excise duty is permanent. We are not going to raise prices after April 29.” Gokhale alleged that “the government does not think about people, they only think about elections.” Sanjay Seth of BJP, however, said the war in West Asia has spiked crude oil price and most countries in the world have hiked their domestic oil prices.

“But the government cut excise duty instead of passing the burden on common people… this shows how Prime Minister Narendra Modi is concerned about the common people,” he asserted.

Taking part in the discussion, Shaktisinh Gohil of Congress said the Budget did not have anything for the poor and the middle class, while the benefits have only been provided to the rich and big corporate houses.

While flagging lack of steps to tackle high unemployment among the youth, he also lashed out at the government for removing import duty on items like so

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ng business has improved, the ground reality is different. It has become “ease of doing harassment and a mode of tax terrorism”, he alleged.

“In 2024, 40,000 MSMEs and 10,000 startups were forced to shut,” Mittal said, observing that first, the tax liability of a business is calculated, followed by raid on a shopkeeper and officials have the power of immediate arrest.

He also called for effective utilisation of public money, saying Rs 48,000 crore was allocated for Smart City Yojana but “we don't know of a single smart city”.

He also alleged cost overruns and missed deadliness on the Ahmedabad-Mumbai bullet train project.

S Niranjan Reddy of YSRCP urged the government to “please do something out of the box for ensuring that the defence Budget and the defence allocation goes up”.

He called for improvement in judicial infrastructure and justice delivery mechanism.

Pointing at several capacity constraints, Reddy highlighted the huge pendency of cases in various cou

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Fadnavis praises PM for excise cut; warns against hoarding, rumour-mongering
GST
Dated:- 27-3-2026
PTI
Mumbai, Mar 27 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Friday said the petrol excise duty cut will shield consumers from the impact of rising crude prices amid the West Asia war, and urged people to avoid panic buying of fuels as it can create an artificial shortage.

“The Middle East conflict led to a rise in oil prices, and there were fears that petrol and diesel prices would also go up in the country. However, those prices did not increase because the government reduced the excise duty by Rs 10 per litre. This enabled our oil companies to absorb the burden without passing it on to customers,” Fadnavis told

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n.

Under PM Modi's leadership, India has managed the crisis effectively, ensuring there is no shortage of petrol or diesel, the chief minister added.

“I think the kind of diplomacy our Prime Minister has practiced is commendable. I would like to urge the citizens not to unnecessarily queue outside the petrol pumps because we have petrol and diesel stock for the next one month. If people resort to panic buying petrol and diesel, then there will be stress on the supply and demand cycle leading to an artificial shortage,” the chief minister added.

The government is taking all necessary steps to ensure timely supply of LPG to households, he said.

“There is no need for hoarding and no one should do that. And if the gas ag

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Govt to review windfall tax imposed on export of diesel and ATF on fortnightly basis: CBIC chief
GST
Dated:- 27-3-2026
PTI
New Delhi, Mar 27 (PTI) CBIC Chairman Vivek Chaturvedi on Friday said the government will review the special additional excise duty or windfall tax on diesel and ATF every fortnight.

The move to levy special additional excise duty (SAED) is to ensure domestic availability of diesel and ATF, Chaturvedi said, while briefing the media.

The revenue gain from SAED is estimated at Rs 1,500 crore in the first fortnight, he added.

The government on Thursday imposed an export duty of Rs 21.5 per litre on diesel and Rs 29.5 per litre on aviation turbine fuel (ATF) to discourage exports and improve domestic

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uty on petrol and diesel for domestic consumption has been reduced by ?10 per litre each. This will provide protection to consumers from rise in prices. Hon. PM @narendramodi has always ensured that citizens are protected from vagaries of supply and costs of essential goods,” Finance Minister said in a post on X.

Further, she said, duties have been imposed on exports of Diesel at Rs 21.5 per litre and on ATF at Rs 29.5 per litre.

“This will ensure adequate availability of these products for domestic consumption. The Parliament has been notified about the same,” she said.

Asked about revenue impact of cut in excise duty on petrol and diesel, Chaturvedi said the revenue department is looking at the trend of supplies.

“The situ

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e hike in diesel rates warranted due to the rise in international oil prices.

International oil prices touched USD 119 per barrel earlier this month on the intensifying Iran war, before pulling back to around USD 100 a barrel.

The first signs of stress came when Nayara Energy, the country's largest private fuel retailer, raised petrol price by Rs 5 per litre and diesel by Rs 3 a litre on Thursday. Petrol at Nayara pumps now costs Rs 100.71 a litre and diesel costs Rs 91.31 per litre.

State-owned fuel retailers, who control about 90 per cent of the market, continue to keep rates frozen. A litre of normal petrol in Delhi continues to cost Rs 94.77 at their outlets, while the same grade diesel comes for Rs 87.67 a litre. PTI JD DP

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Excise duty cut on petrol-diesel due to assembly polls: Congress slams govt
GST
Dated:- 27-3-2026
PTI
New Delhi, Mar 27 (PTI) The Congress on Friday alleged that the government's excise cuts on petrol and diesel were because of assembly elections and pointed out that consumer prices in India were not reduced even when global crude oil prices fell on seven different occasions in the past 12 years.

The opposition party's attack came after the government slashed excise duty on petrol to Rs 3 per litre and exempted diesel fully from the duty.

Congress general secretary in-charge communications Jairam Ramesh said, “When global crude oil prices fell as they did on seven different occasions in the past 12 years consumer prices in India were not reduced.” “Today's announcement was because of assembly elections. Wait till April 30th,” he said.

Assembly elections in Assam, Kerala and Puducherry will be held on a single day on April 9, in Tamil Nadu on April 23, and in t

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manufacturing headlines and fooling people, the government should focus on delivering actual relief to consumers,” he said.

In another post, Khera pointed out the rise in fuel prices, irrespective of crude prices over the years.

“Modi's Masterstroke: Cheaper crude. Costlier fuel. In May 2014, crude oil was at $106.94 per barrel. Petrol cost Rs 71.71 per litre, and diesel Rs 56.71. Fast forward to just before the West Asia conflict — crude oil had fallen to around USD 70 per barrel. But petrol was selling at Rs 94.72 per litre, and diesel at Rs 87.62 in Delhi,” he said.

India also bought crude oil from Russia at a discounted rate, but the benefit did not translate into relief for consumers, he said.

“It only made the Ambanis richer,” Khera said.

He added, “Because between 2014 and 2026, the government revised the excise duty a total of 21 times, increasing it 12 times. So much for Achche Din!” The Congress leader also lashed out at Petroleum Minister Hardeep Sing

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0 per cent since the United States and Israel launched military strikes against Iran on February 28, triggering sweeping retaliation from Tehran.

In a notification issued on March 26, the Finance ministry cut excise duty to Rs 3 a litre, from Rs 13 a litre earlier, while the levy on diesel was slashed to nil from Rs 10 earlier.

The duty cuts are effective immediately, the ministry said.

Despite the spike in international prices, retail pump rates have not been changed, putting a strain on the finances of oil companies.

The government cuts stand to give some relief to oil companies.

Tracking the excise duty cut notification, shares of fuel retailers IOC, BPCL, and HPCL opened higher on BSE.

International oil prices touched USD 119 per barrel earlier this month, before pulling back to around USD 100 per barrel.

India imports 88 per cent of its crude oil and roughly half of its natural gas. These mostly come via the Strait of Hormuz. PTI ASK VN VN

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