Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude.
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Special additional excise duty on petroleum crude reduced by substitution of the tariff entry, effective shortly after notification.
Amendment substitutes the entry in column (4) of the Table against S. No. 1 in Notification No. 18/2022 Central Excise to alter the Special Additional Excise Duty on production of petroleum crude, as issued under section 5A of the Central Excise Act, 1944 read with section 147 of the Finance Act, 2002, with the substitution taking effect on the stated commencement date and noting prior amendments to the principal notification.