The Central Board of Indirect Taxes and Customs ( CBIC ) has issued a notification to modify the Special Additional Excise Duty on production of Petroleum Crude and export of Aviation turbine Fuel.
A notification issued on Monday stated that “In exercise of the powers conferred by section 5A of the Central Excise Act, 1944 (1 of 1944) read with section 147 of the Finance Act, 2002 (20 of 2002), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 18/2022-Central Excise, dated the 19th July, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 584 (E), dated the 19th July, 2022, namely:- In the said notification, in the Table,- (i) against S. No. 1, for the entry in column (4), the entry “Rs. 2,100 per tonne” shall be substituted; (ii) against S. No. 2, for the entry in column (4), the entry “Rs. 4.50 per litre” shall be substituted.”
This notification shall come into force on the 3rd day of January, 2023.
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