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of <h1>Finance Bill 2022 Updates Central Excise Act: New Tariff Classifications for Motor Gasoline and Fuels under Chapter 27</h1> The Fourth Schedule of the Finance Bill, 2022, amends the Central Excise Act by updating tariff items and their descriptions under Chapter 27, specifically sub-heading 2710 12. The previous tariff items 2710 12 39 to 2710 12 49 are replaced with new classifications for various types of motor gasoline and fuels, including Solvent 145/205, Motor Gasoline, E 20 Fuel, E 12 Fuel, E 15 Fuel, and M 15 Fuel. Each of these fuels is subject to a duty rate of 14% plus 15.00 per litre, conforming to specific Indian standards IS 2796, IS 17021, IS 17586, and IS 17076.
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