Excise exemption for specified blended petrol: targeted ethanol and methanol blends exempted subject to tax and standard conditions. Amends Notification No. 28/2002-Central Excise by substituting Explanation 1 to redefine appropriate duties of excise to include duties under the Fourth Schedule, specified additional excise duties and the Agriculture Infrastructure and Development Cess, read with relevant exemption notifications. Inserts two entries exempting specified ethanol- and methanol-blended petrols from excise duty subject to conformity with Bureau of Indian Standards specifications and payment of the defined excise duties on the motor spirit component and the applicable Central/State/Union territory/Integrated taxes on the alcohol or co-solvent components. Effective 2 February 2021.
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Excise exemption for specified blended petrol: targeted ethanol and methanol blends exempted subject to tax and standard conditions.
Amends Notification No. 28/2002-Central Excise by substituting Explanation 1 to redefine appropriate duties of excise to include duties under the Fourth Schedule, specified additional excise duties and the Agriculture Infrastructure and Development Cess, read with relevant exemption notifications. Inserts two entries exempting specified ethanol- and methanol-blended petrols from excise duty subject to conformity with Bureau of Indian Standards specifications and payment of the defined excise duties on the motor spirit component and the applicable Central/State/Union territory/Integrated taxes on the alcohol or co-solvent components. Effective 2 February 2021.
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