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of <h1>Govt Cuts Special Additional Excise Duty on Petroleum Crude to Nil Effective April 4, 2023, per Notification 16/2023-Central Excise.</h1> The Central Government has issued Notification No. 16/2023-Central Excise, dated April 3, 2023, to amend Notification No. 18/2022-Central Excise, reducing the Special Additional Excise Duty on the production of petroleum crude to 'Rs. Nil per tonne.' This amendment is made under the authority of the Central Excise Act, 1944, and the Finance Act, 2002, in the public interest. The changes will come into effect on April 4, 2023. The principal notification was initially published on July 19, 2022, and has undergone previous amendments, the latest being on March 20, 2023.
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