MoF issued a notification to reduce the

May 16, 2023 | by TeamLease RegTech Legal Research Team

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Finance & Taxation Compliance The Ministry of Finance (MoF) on May 15, 2023, issued a notification to reduce the Special Additional Excise Duty on the production of Petroleum Crude.

Therefore, further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.18/2022- Central Excise, dated July 19, 2022.

In the said notification, in the Table, against S.No.1, for the entry in column (4), the entry “ Nil per tonne” shall be substituted.

This notification shall come into force on May 16, 2023.

[Notification No.22/2023-CentralExcise]

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