Shares of Mahanagar Gas, IGL and Gujarat Gas all were trading higher by more than two percent in early trade on July 15.
EVs and LPG falls under 5 percent GST as against the excise levy of 14 percent and VAT of 5-10 percent on CNG and PNG. CGD players have reportedly sought standardisation against this difference.
In an interview with CNBC-TV18, RS Pandey, Former Oil Secretary said that the high court ruling has offered a significant relief for not only IGL, but also other city gas distribution (CGD) companies. According to him, the judgement has brought about a positive atmosphere.