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of <h1>Finance Bill 2022 Updates Central Excise Act: Adds New Tariff Items for E12 and E15 Fuel Blends.</h1> The Finance Bill, 2022 introduces amendments to the Fourth Schedule of the Central Excise Act, 1944, effective upon enactment. Key changes include the addition of two new tariff items, 2710 12 43 and 2710 12 44, under Chapter 27. These items pertain to E12 and E15 fuel blends, aligning with the new BIS specification [IS 17586] for Ethanol Blended Petrol containing up to twelve and fifteen percent ethanol, respectively. This amendment also harmonizes the Fourth Schedule with proposed changes in the Customs Tariff Act, 1975, under sub-heading 2710 12.
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