Seeks to rescind Notification No. 32/2022-Customs dated 30th June, 2022.- It was exempting imports of Petroleum Crude and ATF from whole of the additional duty of Customs as is equivalent to the Special Additional Excise Duty leviable thereon under section 147 of the Finance Act, 2002 - 48/2024 - Customs -Tariff

Govt Withdraws Import Duty Exemption on Petroleum Crude & ATF; Section 147 Finance Act, 2002 Invoked.

The Central Government has rescinded Notification No. 32/2022-Customs dated 30th June 2022, which exempted imports of Petroleum Crude and Aviation Turbine Fuel (ATF) from the additional customs duty equivalent to the Special Additional Excise Duty under section 147 of the Finance Act, 2002. This decision, made under the powers conferred by the Customs Act, 1962, the General Clauses Act, 1897, and the Finance Act, 2002, is effective immediately and is deemed necessary in the public interest. The rescission does not affect actions taken or omitted before its implementation.