{"id":75291,"date":"2026-03-27T10:01:02","date_gmt":"2026-03-27T10:01:02","guid":{"rendered":""},"modified":"2026-03-27T10:01:02","modified_gmt":"2026-03-27T10:01:02","slug":"govt-slashes-excise-duty-on-petrol-to-rs-3-litre-exempts-diesel-to-shield-consumers-from-global-crude-price-rise","status":"publish","type":"post","link":"https:\/\/goodsandservicetax.in\/GST\/?p=75291","title":{"rendered":"Govt slashes excise duty on petrol to Rs 3\/litre, exempts diesel to shield consumers from global crude price rise"},"content":{"rendered":"<p>Govt slashes excise duty on petrol to Rs 3\/litre, exempts diesel to shield consumers from global crude price rise<BR>GST<BR>Dated:- 27-3-2026<BR>PTI<BR>New Delhi, Mar 27 (PTI) The government has slashed excise duty on petrol to Rs 3 a litre and exempted diesel from the duty as it seeks to shield consumers from the impact of rising global crude prices amid the ongoing war in the Middle East.<\/p>\n<p>Global crude prices have risen by almost 50 per cent since the United States and Israel launched military strikes against Iran on February 28, triggering sweeping retaliation from Tehran.<\/p>\n<p>In a notification issued late 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 has been sla<\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p align=\"center\"><strong>Plain text (Extract) only<\/strong><BR>For full text:-<a href=\"https:\/\/www.taxtmi.com\/news?id=71852\">Visit the Source <\/a><\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p>ep retail sale prices stable at existing levels, giving oil companies more headroom to collect additional revenue to compensate for refining losses.<\/p>\n<p>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.<\/p>\n<p>India imports 88 per cent of its crude oil needs and roughly half of its natural gas requirement. These mostly come via the Strait of Hormuz.<\/p>\n<p>Following the US and Israeli attacks on Iranian government, military and nuclear facilities, Iran warned shipping away from the strait, and insurers withdrew coverage, effectively halting tanker movements.<\/p>\n<p>Nayara Energy, which operates 6,967 of India&#39;s 102,075 petrol pumps, has decided to pass on <\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p align=\"center\"><strong>Plain text (Extract) only<\/strong><BR>For full text:-<a href=\"https:\/\/www.taxtmi.com\/news?id=71852\">Visit the Source <\/a><\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Govt slashes excise duty on petrol to Rs 3\/litre, exempts diesel to shield consumers from global crude price riseGSTDated:- 27-3-2026PTINew Delhi, Mar 27 (PTI) The government has slashed excise duty on petrol to Rs 3 a litre and exempted diesel from th&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-75291","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/75291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=75291"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/75291\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=75291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=75291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=75291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}