Govt scraps Special Additional Excise Duty on Crude Oil Production effective 18th Sept 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 to nil per tonne. The amendment comes into force on September 18, 2024, and is issued by the Ministry of Finance, Department of Revenue, under the Central Excise Act, 1944 and Finance Act, 2002, citing public interest as the rationale. It supersedes the earlier amendment vide Notification No. 22/2024-Central Excise.....