CBIC has amended Notification No. 18/2022-Central Excise, dated July 19, 2022, through Notification No. 16/2024-Central Excise dated June 14, 2024. This amendment reduces the Special Additional Excise Duty (Windfall Tax) on the production of petroleum crude from Rs. 5200 per tonne to Rs. 3250 per tonne, effective June 15, 2024. This change is enacted under the powers conferred by section 5A of the Central Excise Act, 1944, and section 147 of the Finance Act, 2002, in the interest of public welfare.
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 16/2024-Central Excise | Dated: 14th June, 2024
G.S.R..328(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. 3250 per tonne” shall be substituted;
2. This notification shall come into force on the 15th day of June, 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. 15/2024-Central Excise, dated the 31st May, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 300(E), dated the 31st May, 2024.
