To Fund Infrastucture Development Programme, Government Increases Basic Excise Duty on Petrol and Diesel (Both Branded and Unbranded) by Rs. 2 Per Litre; Duties to Come into effect from 2nd January, 2015
In order to fund the ambitious infrastructure development programme of the Government, particularly the building of 15000 kms of roads, during current and next financial year, the Government has decided to increase basic excise duty on petrol and diesel (both branded and unbranded) by Rs. 2 per litre. Allocation of these resources to the road sector will also spur economic activity and employment generation arising from the road construction sector.
These increased rates of basic excise duty will be effective from 2nd January, 2015 (that is from midnight of 1st and 2nd January, 2015). There will be no change in other excise duty rates applicable to these commodities.
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Notification No. 1/2015-Central Excise
Dated- 1st January, 2015
G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, 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.12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. 163(E), dated the 17th March, 2012, namely: –
In the said notification, in the Table,-
(i) in serial number 70,-
(a) against item (i) of column (3), for the entry in column (4), the entry “₹ 6.95 per litre” shall be substituted;
(b) against item (ii) of column (3), for the entry in column (4), the entry “₹ 8.10 per litre” shall be substituted;
(ii) in serial number 71,-
(a) against item (i) of column (3), for the entry in column (4), the entry “₹ 5.96 per litre” shall be substituted;
(b) against item (ii) of column (3), for the entry in column (4), the entry “₹ 8.25 per litre” shall be substituted;
- This notification shall come into force with effect from the 2nd day of January, 2015.
[F. No.354/123/2014-TRU]
(Akshay Joshi)
Under Secretary to the Government of India
Note.- The principal notification No. 12/2012-Central Excise, dated the 17th March, 2012 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 163(E) dated the 17th March, 2012 and was last amended vide notification No.24/2014-Central Excise, dated the 2nd December, 2014 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 862(E) dated the 2nd December, 2014.
In addition to the above concessional rate of duty available to goods such as machine & machinery parts, Electrical goods and machinery and motor vehicles till 31.12.2014 was not extended.(Refer items listed at Sl No.345 to 369 of Notification N0. 4/2014 CE