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III. AMENDMENTS IN THE SCHEDULE VII OF THE FINANCE ACT, 2001 (NCCD SCHEDULE)
S.No. | Amendment | Clause of the Finance Bill, 2022 |
1. | The Seventh Schedule of the Finance Act, 2001, is being amended by substituting Central Excise tariff item 2709 20 00 with 2709 00 10 [Petroleum Crude] | [125] |
Full Text:
NCCD schedule amendment: reclassification of petroleum crude tariff item to a designated central excise heading changes levy application. Amendment substitutes Central Excise tariff item 2709 20 00 with 2709 00 10, classifying the entry as petroleum crude in the Seventh Schedule to the Finance Act, 2001, via the Finance Bill, 2022, thereby reclassifying the tariff heading for NCCD schedule purposes. of Press 'Enter' after typing page number.
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