CBIC Slashes SAED on Petroleum Crude to Rs. 5000 from Rs. 6300 per tonne: CBIC reduces Special Additional Excise Duty on production of Petroleum Crude to Rs. 5000 from earlier Rs. 6300 per tonne with effect from November 16, 2023 vide Notification No. 40/2023-Central Excise Dated: 30th November, 2023 by amending notification No. 18/2022-Central Excise, dated the 19th July, 2022.
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MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 40/2023-Central Excise | Dated: 30th November, 2023
G.S.R. 871(E).— 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, against S. No. 1, for the entry in column (4), the entry “Rs. 5000 per tonne” shall be substituted.
2. This notification shall come into force with effect from the 01st day of December, 2023.
[F. No. 354/15/2022-TRU]
AMREETA TITUS, Dy. Secy.
Note: – The principal notification No. 18/2022-Central Excise, dated the 19th July, 2022 was 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, and was last amended vide notification No. 38/2023-Central Excise, dated the 15th November, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.836(E), dated the 15th November, 2023.
