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of <h1>Finance Ministry Revises Special Additional Excise Duty on Petroleum Crude; New Rates Effective January 2, 2024.</h1> The Ministry of Finance has issued Notification No. 01/2024-Central Excise to amend Notification No. 18/2022-Central Excise, revising the Special Additional Excise Duty (SAED) rate on petroleum crude. Effective January 2, 2024, the amendment changes the rate for S. No. 1 in the notification's table to Rs. 2300 per tonne and for S. No. 2 to Rs. Nil per litre. This adjustment is made under the authority of the Central Excise Act, 1944, and the Finance Act, 2002, in the interest of public welfare.
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