CBIC has amended Notification No. 18/2022-Central Excise, dated July 19, 2022, through Notification No. 20/2024-Central Excise | Dated: 16th August , 2024. This amendment reduces the Special Additional Excise Duty (Windfall Tax) on the production of petroleum crude from Rs. 4600 per tonne to Rs. 2100 per tonne, effective 17th August, 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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MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 20/2024-Central Excise| Dated: 16th August, 2024
G.S.R. 503(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, –
(i) against S. No. 1, for the entry in column (4), the entry “Rs. 2100 per tonne” shall be substituted;
2. This notification shall come into force on the 17th day of August, 2024.
[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. 19/2024-Central Excise, dated the 31st July, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 466(E), dated the 31st July, 2024.
