Finance Ministry adds New Tariff item under 'MINERAL PRODUCTS' in Central Excise Act [Read Notification]
Through this notification, the Ministry of Finance introduced a new tariff item under the head “MINERAL PRODUCTS”
Finance Minister – Mineral Products – Central Excise Act – Taxscan
Finance Minister – Mineral Products – Central Excise Act – Taxscan
The Ministry of Finance, specifically the Department of Revenue has issued Notification No. 26/2024-Central Excise, dated October 24, 2024. This notification has been released under the authority granted by Section 3C of the Central Excise Act, 1944 (1 of 1944), intending to update and amend certain aspects of the Act's Fourth Schedule.
The amendments are effective immediately from the date of publication in the Official Gazette, which is October 24, 2024.
Amendments Introduced in the Notification
The previous "Supplementary Notes" under the heading of "Mineral Products" in Chapter 27 of the Fourth Schedule have been replaced with a revised version. The new Supplementary Notes specify that any reference to the Bureau of Indian Standards (BIS) in this Chapter will now explicitly refer to the latest published version of that standard.
For example, if a reference is made to "IS 1459" within this Chapter, it will automatically point to IS 1459: 2018 the latest edition rather than an older version such as IS 1459: 1974.
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An important change in the tariff classification involves the introduction of a new tariff item under Chapter 27 for "Blended Aviation Turbine Fuel." For tariff item 2710 19 33, the term "Blended Aviation Turbine Fuel" has been clearly defined. According to the new guidelines:
“Any Aviation turbine fuel containing by weight 70% or more of Petroleum Oils or Oils obtained from Bituminous Minerals, blended with Synthesized Hydrocarbons conforming to Indian Standards Specification of Bureau of Indian Standards IS 17081:2019”
Below is the table as specified in the notification for the amendment in the Fourth Schedule of the Central Excise Act, 1944, under Chapter 27 for "Mineral Products":
| Tariff Item | Description of Goods | Unit | Rate of Duty |
| 2710 19 32 | (Existing Item) | kg. | (Existing Rate) |
| 2710 19 33 | Blended Aviation Turbine Fuel | kg. | 14% |
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Explanation: A new tariff item, 2710 19 33, has been added under the sub-heading 2710 19, specifically for Blended Aviation Turbine Fuel. The unit of measurement for this item is kilogram (kg). The rate of excise duty for Blended Aviation Turbine Fuel has been set at 14%.
To Read the full text of the Notification CLICK HERE
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