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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        Case ID :
        FEMA & RBI

        Global crude oil price of Indian Basket increases to 109.57 US$/bbl on 09.01.2013

        January 10, 2013

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        Press Information Bureau

        Government of India

        Ministry of Petroleum & Natural Gas

        10-January, 2013 14:02 IST

        The international crude oil price for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went up to US$ 109.57/barrel (bbl) on 09.01.2013. This was higher than the price of US$ 109.11//bbl prevailing on the previous trading day of 08.01.2013. 

        In rupee terms however, the crude oil price went down to Rs 6021.97/bbl on 09.01.2013 as compared to Rs 6037.06/bbl on 08.01.2013. This was due to rupee appreciation with rupee dollar-exchange rate on 09.01.2013 at Rs 54.96/US$ against Rs 55.33/US$ on 08.01.2013.

        Particulars

        Unit

        Price on 09 January, 2013

        i.e. 08.01.2013)

        Last Fortnight December  16-31, 2012

        (previous fortnight

        1-15, December 2012)

        Crude Oil

        (Indian Basket)

        ($/bbl)

                      109.57     (109.11)     

                  107.76   (106.85)               

        (Rs/bbl

                    6021.97   (6037.06)  

                5912.79 (5815.85) 

        Exchange Rate

        (Rs/$)

                        54.96       (55.33)       

                    54.87     (54.43)                        

         

        RCJ/RKS –Daily Crude oil price- 10.01.2013

         

        Crude oil price rises internationally while rupee appreciation reduces the rupee-denominated price and alters domestic valuation. International crude oil price for the Indian Basket rose to US$ 109.57 per barrel on 09 January 2013 from US$ 109.11 on the previous trading day, while the rupee-denominated price fell to Rs 6021.97 per barrel on 09 January 2013 from Rs 6037.06 on 08 January 2013 due to rupee appreciation, with the exchange rate at Rs 54.96/US$.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Crude oil price rises internationally while rupee appreciation reduces the rupee-denominated price and alters domestic valuation.

                                International crude oil price for the Indian Basket rose to US$ 109.57 per barrel on 09 January 2013 from US$ 109.11 on the previous trading day, while the rupee-denominated price fell to Rs 6021.97 per barrel on 09 January 2013 from Rs 6037.06 on 08 January 2013 due to rupee appreciation, with the exchange rate at Rs 54.96/US$.


                                Note: It is a system-generated summary and is for quick reference only.
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