Cut on Crude Oil Production Tax: Rs. 1850/tonne from Aug 31, 2024.

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Full Text of the Document

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....This notification amends the previous Notification No. 18/2022-Central Excise to reduce the Special Additional Excise Duty on production of Petroleum Crude from the existing rate to Rs. 1850 per tonne. The amendment comes into force on 31st August, 2024. It is issued by the Ministry of Finance, Department of Revenue, under the Central Excise Act, 1944 and the Finance Act, 2002, citing public interest as the reason for the change.....