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of <h1>India Raises Special Additional Excise Duty on Petroleum Crude to Rs. 3200/Tonne, Effective February 3, 2024.</h1> The Government of India, through the Ministry of Finance, has issued Notification No. 05/2024-Central Excise to amend Notification No. 18/2022-Central Excise, originally dated July 19, 2022. This amendment increases the Special Additional Excise Duty on the production of petroleum crude to Rs. 3200 per tonne. The amendment is made under the authority of the Central Excise Act, 1944, and the Finance Act, 2002, and is deemed necessary in the public interest. The revised duty rate will take effect on February 3, 2024.
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