Refining major Hindustan Petroleum Corporation Ltd (HPCL) has come under scrutiny for allegedly evading Central excise duty to the tune of Rs 346.34 crore. The Directorate General of GST Intelligence, Visakhapatnam has reported the case to its Headquarters in Delhi and is investigating the alleged duty evasion.
As per an internal communication, the state-owned HPCL has paid an amount of Rs 5 crore towards part-payment of their Central excise liability under protest pending investigation. “Investigation is under progress,” said the report seen by IANS.
The case involves duty evasion on quantity gains in motor spirit (MS) and high speed diesel (HSD) during the course of pipeline transfer from HPCL’s Visakha refinery to the four marketing terminals connected by Vizag-Vijayawada-Secunderabad Pipeline (VVSPL) between March 2014 and June 2018.
HPCL transports different petroleum products from its Visakha refinery to various marketing terminals in a sequence through the same pipeline. Read More