Tariff amendment reclassifies ethanol blended petrol to add dedicated excise tariff entries, aligning excise and customs schedules. Clause 98 inserts two new tariff items under sub heading 2710 12 in Chapter 27 of the Fourth Schedule to the Central Excise Act to create distinct excise ... Summary
Tariff amendment reclassifies ethanol blended petrol to add dedicated excise tariff entries, aligning excise and customs schedules.
Clause 98 inserts two new tariff items under sub heading 2710 12 in Chapter 27 of the Fourth Schedule to the Central Excise Act to create distinct excise classifications for ethanol blended petrol variants in line with BIS specification IS 17586, and aligns these entries with corresponding proposed amendments to sub heading 2710 12 in the First Schedule to the Customs Tariff Act; the amendment takes effect on enactment of the Finance Bill, 2022.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
