CBIC has amended Notification No. 18/2022-Central Excise, dated July 19, 2022, through Notification No. 17/2024-Central Excise | Dated: 1st July, 2024. This amendment increases the Special Additional Excise Duty (Windfall Tax) on the production of petroleum crude from Rs. 3250 per tonne to Rs. 6000 per tonne, effective July 02, 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.
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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 17/2024-Central Excise | Dated: 1st July, 2024
G.S.R. 359(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. 6000 per tonne” shall be substituted;
2. This notification shall come into force on the 2nd day of July, 2024.
[F. No. 354/15/2022-TRU]
(Amreeta Titus)
Deputy Secretary to the Government of India
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. 16/2024-Central Excise, dated the 14th June, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 328 (E), dated the 14th June, 2024.
