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        Bills

        Amendment of Central Excise Notification

        24 July, 2024

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        Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024

        EXCISE

        Note:

        (a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the Central Excise Act, 1944.

        (b) “NCCD” means National Calamity Contingent Duty levied under Finance Act, 2001, as a duty of excise on specified goods at rates specified in Seventh Schedule to Finance Act, 2001

        (c) Clause Nos. in square brackets [ ] indicate the relevant clause of the Finance (No. 2) Bill, 2024.

        (d) Amendments carried out through the Finance (No. 2) Bill, 2024 come into effect on the date of its enactment, unless otherwise specified.

        S. No.

        Amendment

        Clause of the Finance (No. 2) Bill, 2024

         

        Amendment of Central Excise Notification

        [The changes will come into effect from date of enactment of the Finance (No. 2) Bill 2024]

         

        1.

        Notification No 12/2012-Central Excise dated 17.3.2012 is being amended to extend the time period for submission of the final Mega Power Project certificate from 120 months to 156 months.

        [108] Read with Fifth Schedule

         

        Exemption from Clean Environment Cess

        [The changes will come into effect from date of enactment of the Finance (No. 2) Bill 2024].

         

        2.

        The Clean Environment Cess, levied and collected as a duty of excise, is being exempted on excisable goods lying in stock as on 30th June, 2017 subject to payment of appropriate GST Compensation Cess on supply of such goods on or after 1st July, 2017.

        [109]

        Full Text:

        Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024

        Exemption of Clean Environment Cess on stock, subject to GST compensation cess on subsequent supplies. The amendment extends the submission period for the final Mega Power Project certificate under Notification No.12/2012 Central Excise from 120 to 156 months. It also exempts Clean Environment Cess on excisable goods in stock as of 30 June 2017, conditional on payment of applicable GST Compensation Cess on supplies of those goods on or after 1 July 2017. Both changes take effect from the date of enactment of the Finance (No. 2) Bill, 2024.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Exemption of Clean Environment Cess on stock, subject to GST compensation cess on subsequent supplies.

                              The amendment extends the submission period for the final Mega Power Project certificate under Notification No.12/2012 Central Excise from 120 to 156 months. It also exempts Clean Environment Cess on excisable goods in stock as of 30 June 2017, conditional on payment of applicable GST Compensation Cess on supplies of those goods on or after 1 July 2017. Both changes take effect from the date of enactment of the Finance (No. 2) Bill, 2024.


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