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        Bills

        Amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944

        1 February, 2021

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        Budget 2021-22 + FINANCE Bill, 2021

        Amendment in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944

        Tariff items 2709 10 00, 2709 20 00, and the entries are being substituted relating thereto as under: [to be made effective from 01.04.2021] [Clause [96(i)] of the Finance Bill, 2021]

        Tariff Item

        Description of goods

        Unit

        Rate of duty

        2709

        Petroleum oils and oils obtained from bituminous minerals, crude

        -

         

        2709 00 10

        petroleum crude

        Kg.

        Nil

        2709 00 20

        other

        Kg.

        …..

         

        Full Text:

        Budget 2021-22 + FINANCE Bill, 2021

        Tariff amendment revises Chapter 27 classifications for petroleum oils, altering excise duty treatment effective next fiscal year. Amendment substitutes entries in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944 revising tariff items for petroleum oils: petroleum crude is classified under tariff item 2709 00 10 assessed per kilogram with a nil excise duty, and a substituted entry for other petroleum oils appears under 2709 00 20 assessed per kilogram with the duty entry not specified in the extract; the amendment is linked to the Finance Bill and is stated to take effect from the next fiscal year.
                        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.

                              Tariff amendment revises Chapter 27 classifications for petroleum oils, altering excise duty treatment effective next fiscal year.

                              Amendment substitutes entries in Chapter 27 of the Fourth Schedule to the Central Excise Act, 1944 revising tariff items for petroleum oils: petroleum crude is classified under tariff item 2709 00 10 assessed per kilogram with a nil excise duty, and a substituted entry for other petroleum oils appears under 2709 00 20 assessed per kilogram with the duty entry not specified in the extract; the amendment is linked to the Finance Bill and is stated to take effect from the next fiscal year.


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