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    NotificationsCentral Excise
    Analyzing the Implications of Central Excise Duty Changes on Petroleum Products
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    NotificationsCentral Excise
    Analyzing the Implications of Central Excise Duty Changes on Petroleum Products
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    Special Additional Excise Duty reduction may lower government revenues and influence fuel pricing and consumption.
    Notification No. 03/2024 amends Notification No. 18/2022 by reducing the Special Additional Excise Duty on production of petroleum crude, directly altering the statutory excise rate and thereby affecting government excise revenue, oil company margins and pricing incentives, potential consumer fuel prices given other tax and market factors, and environmental consumption incentives.

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