TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
All TMI Notes
All TMI Notes
Join Channel
Note
Bookmark
Share
EXCISE
EXCISE
Note:
(a) “Basic Excise Duty” means the excise duty set forth in the Fourth Schedule to the Central Excise Act, 1944.
(b) “Road and Infrastructure Cess” means the additional duty of central excise levied under section 112 of the Finance Act, 2018.
(c) “Special Additional Excise Duty” means a duty of excise levied under section 147 of the Finance Act, 2002.
(d) “NCCD” means National Calamity Contingency Duty levied under Finance Act, 2001, as a duty of excise on specified goods at rates specified in seventh schedule to Finance Act, 2001
(e) “Agriculture Infrastructure and Development Cess” means an additional duty of Excise that is levied under Section 125 of the Finance Act, 2021.
(f) Clause Nos. in square brackets [ ] indicate the relevant clause of the Finance Bill, 2022.
(g) Amendments carried out through the Finance Bill, 2022, come into effect on the date of its enactment, unless otherwise specified.
I. AMENDMENTS IN THE FOURTH SCHEDULE
S.No. | Amendment | Clause of the Finance Bill, 2022 |
1. | Two new tariff items, that is, 2710 12 43 and 2710 12 44, falling under Chapter 27, have been inserted in the Fourth Schedule to the Central Excise Act, 1944, relating to E12 and E15 fuel blends, conforming to the new BIS specification [IS 17586] that has been issued for Ethanol Blended Petrol with percentage of ethanol up to twelve (E12) and fifteen (E15) percent respectively. This will align the Fourth Schedule to the Central Excise Act, 1944, with the similar proposed amendment in the sub-heading 2710 12 in the First Schedule to the Customs Tariff Act, 1975. | [98] |
Full Text:
TaxTMI 
