Union Budget 2023-24 + FINANCE Bill, 2023
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 Bill, 2023.
(d) Amendments carried out through the Finance Bill, 2023 come into effect on the date of its enactment, unless otherwise specified.
I. AMENDMENT TO SEVENTH SCHEDULE TO THE FINANCE ACT, 2001
The Seventh Schedule to the Finance Act, 2001 is being amended w.e.f. 02.02.2023* to revise the NCCD rates on specified cigarettes under HS 2402 as detailed below:[Clause 153 read with Sixth Schedule of the Finance Bill, 2023] |
Tariff item | Description | Unit | NCCD Rates (in Rs. per thousand) |
From | To |
(1) | (2) | (3) | (4) | (5) |
2402 20 10 | Other than filter cigarettes, of length not exceeding 65 millimetres | Tu | 200 | 230 |
2402 20 20 | Other than filter cigarettes, of length exceeding 65 millimetres but not exceeding 70 millimetres | Tu | 250 | 290 |
2402 20 30 | Filter cigarettes of length (including the length of the filter, the length of filter being 11 millimetres or its actual length, whichever is more) not exceeding 65 millimetres | Tu | 440 | 510 |
2402 20 40 | Filter cigarettes of length (including the length of the filter, the length of filter being 11 millimetres or its actual length, whichever is more) exceeding 65 millimetres but not exceeding 70 millimetres | Tu | 440 | 510 |
2402 20 50 | Filter cigarettes of length (including the length of the filter, the length of filter being 11 millimetres or its actual length, whichever is more) exceeding 70 millimetres but not exceeding 75 millimetres | Tu | 545 | 630 |
2402 20 90 | Other | Tu | 735 | 850 |
2402 90 10 | Cigarettes of tobacco substitutes | Tu | 600 | 690 |
*Will come into effect immediately through a declaration under the Provisional Collection of Taxes Act, 1931.
II. NOTIFICATION NO. 05/2023-Central Excise, DATED 01.02.2023 w.e.f 2nd February, 2023
Amendment |
Notification No. 05/2023-Central Excise dated 01.02.2023 is being issued to exempt excise duty on blended Compressed Natural Gas (CNG) from so much of the amount as is equal to GST paid on biogas /compressed bio gas contained in such blended CNG subject to the specified conditions. |
Full Text:
Union Budget 2023-24 + FINANCE Bill, 2023
NCCD revision on specified cigarettes raises excise incidence under the Seventh Schedule and alters tariff rate application. Revision of
NCCD rates increases per thousand levies on specified HS 2402 cigarette subitems in the
Seventh Schedule, effective 2 February 2023 with provisional collection available. Notification No. 05/2023 Central Excise exempts excise duty on blended CNG to the extent of GST paid on contained biogas/compressed bio gas, subject to specified conditions.
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