Excise duty reduction on petrol, diesel and LPG gases; duty rates amended by notification and effective mid June. The Central Government, exercising powers under section 5A(1) of the Central Excise Act, 1944, amends notification No. 6/2002-Central Excise to reduce the specific excise duty on petrol at S. No. 32B to 10%, the basic excise duty on high-speed diesel at S. No. 32C to 11%, and to insert S. No. 32E for tariff item 2711.19 covering Liquefied Petroleum Gases with a basic excise duty of 8%, effective 16 June 2004.
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Excise duty reduction on petrol, diesel and LPG gases; duty rates amended by notification and effective mid June.
The Central Government, exercising powers under section 5A(1) of the Central Excise Act, 1944, amends notification No. 6/2002-Central Excise to reduce the specific excise duty on petrol at S. No. 32B to 10%, the basic excise duty on high-speed diesel at S. No. 32C to 11%, and to insert S. No. 32E for tariff item 2711.19 covering Liquefied Petroleum Gases with a basic excise duty of 8%, effective 16 June 2004.
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