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of <h1>Excise Duty on Petroleum Crude Reduced to Rs. 2100 Per Tonne Effective August 17, 2024, u/s 5A.</h1> The Ministry of Finance, Department of Revenue, has issued Notification No. 20/2024-Central Excise to amend Notification No. 18/2022-Central Excise, dated July 19, 2022. This amendment reduces the Special Additional Excise Duty on petroleum crude production from its previous rate to Rs. 2100 per tonne. The change is made under the authority of section 5A of the Central Excise Act, 1944, and section 147 of the Finance Act, 2002, in the public interest. The amendment will take effect on August 17, 2024.
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