CBIC amended notification to reduce the Special Additional Excise Duty on production of Petroleum Crude

Jan 16, 2024 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Central Board of Indirect Taxes and Customs (CBIC) on January 15, 2024, issued the amendment to notification no. 18/2022-Central Excise dated July 19, 2022, which states “to reduce the Special Additional Excise Duty on the production of Petroleum Crude and export of Aviation Turbine Fuel”.

The following has been amended namely: -

• Against S. No. 1 which states “Petroleum crude”, for the entry in column (4), the entry “Rs. 1700 per tonne” shall be substituted

 

This notification shall come into force on January 16, 2024.

 

[Notification No. 03/2024-Central Excise]

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