SAED on production of Petroleum Crude - Rate increased for “Rs. 4,250 per tonne” - Notification No. 18/2022-Central Excise, dated the 19th July, 2022 amended.
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Excise rate change for SAED on petroleum crude under amended notification, effective start of August, alters tariff entry.
Amendment increases the rate of Special Additional Excise Duty on production of petroleum crude by substituting the tariff entry against the specified serial number in Notification No. 18/2022-Central Excise, effected under section 5A of the Central Excise Act, 1944 read with section 147 of the Finance Act, 2002.