Customs duty reduction on petroleum products and CENVAT adjustments for diesel and petrol take effect, altering import and excise charges. Reduced basic customs duties on crude petroleum and specified petroleum product headings take effect 30 September 2000; kerosene for parallel marketing retains a higher duty. Administrative notifications implement reductions. Adjustments in excise/CENVAT treatment: High Speed Diesel receives a CENVAT charge of twelve percent after exemption beyond seventy five percent of CENVAT duty, and Motor Spirit is exempted from special excise duty and is chargeable only to CENVAT at sixteen percent.
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Provisions expressly mentioned in the judgment/order text.
Customs duty reduction on petroleum products and CENVAT adjustments for diesel and petrol take effect, altering import and excise charges.
Reduced basic customs duties on crude petroleum and specified petroleum product headings take effect 30 September 2000; kerosene for parallel marketing retains a higher duty. Administrative notifications implement reductions. Adjustments in excise/CENVAT treatment: High Speed Diesel receives a CENVAT charge of twelve percent after exemption beyond seventy five percent of CENVAT duty, and Motor Spirit is exempted from special excise duty and is chargeable only to CENVAT at sixteen percent.
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