Addition in Exemption (Motor spirit, (commonly known as petrol)) - 062/2002 - Central Excise - Tariff

Excise exemption for ethanol blended petrol permits duty treatment when components comply with excise payment and standards.

The notification amends central excise exemptions to insert a provision exempting petrol blended with ethanol that conforms to the Bureau of Indian Standards specification and whose constituent motor spirit and ethanol have had the appropriate duties of excise paid. Eligibility is conditioned on compliance with the procedural rules for concessional removal for manufacture and on the definition of 'appropriate duties of excise,' which encompasses tariff duties, additional duties and special additional excise duty subject to existing exemption notifications.