CBIC reduces Special Additional Excise Duty on production of Petroleum Crude to ‘Nil Per Tonne’ w.e.f. 16 May 2023 [Read Notification]

CBIC reduces Special Additional Excise Dutyf - Petroleum Crude to Nil Per Tonne - TAXSCAN

The Special Additional Excise Duty (SAED) on the production of petroleum oil has been reduced to “Nil per tonne,” according to a notification vide No. 22/2023-Central Excise dated 15th May 2023 from the Central Board of Indirect Taxes and Customs (CBIC). The notification shall come into force from 16th May 2023. As per the notification,…

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