Seeks to withdraw Special Additional Excise Duty (SAED) on production of Petroleum Crude and on export of Aviation Turbine Fuel, motor spirit, commonly known as petrol, and high speed diesel oil.
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Rescission of Special Additional Excise Duty exemptions reinstates excise treatment for petroleum products, effective immediately with savings.
Rescinds prior notifications granting relief under Special Additional Excise Duty for production of petroleum crude and for exports of aviation turbine fuel, motor spirit and high speed diesel oil, effective immediately, while saving acts or omissions done before rescission.