Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude. - 05/2024 - Central Excise - Tariff
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Special Additional Excise Duty increase on petroleum crude amends tariff entry and takes effect from 3 February 2024 The notification substitutes the entry in the tariff Table for S. No. 1 in Notification No. 18/2022 Central Excise, increasing the Special Additional Excise Duty on production of petroleum crude by replacing the column (4) entry with 'Rs. 3200 per tonne.' The amendment is effected under powers conferred by the Central Excise Act and the Finance Act and is stated to be necessary in the public interest, with commencement on 3 February 2024.
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Special Additional Excise Duty increase on petroleum crude amends tariff entry and takes effect from 3 February 2024
The notification substitutes the entry in the tariff Table for S. No. 1 in Notification No. 18/2022 Central Excise, increasing the Special Additional Excise Duty on production of petroleum crude by replacing the column (4) entry with "Rs. 3200 per tonne." The amendment is effected under powers conferred by the Central Excise Act and the Finance Act and is stated to be necessary in the public interest, with commencement on 3 February 2024.
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