Ministry of Finance, through the Central Board of Indirect Taxes and Customs (CBIC), has issued Notification No. 12/2024-Central Excise dated 15th April 2024, announcing an increase in the Special Additional Excise Duty (SAED) on the production of Petroleum Crude. Effective from 16th April 2024, the SAED has been revised to Rs. 9600 per tonne.
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 12/2024-Central Excise | Dated: 15th April, 2024
G.S.R. 247(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),notification 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, –
(i) against S. No. 1, for the entry in column (4), the entry “Rs. 9600 per tonne” shall be substituted;
2. This notification shall come into force on the 16th day of April, 2024.
[F. No. 354/15/2022-TRU]
VIKRAM VIJAY WANERE, Under 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. 11/2024-Central Excise, dated the 3rd April, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 241(E), dated the 3rd April, 2024.
