CBIC amends Notification No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude to Rs. 10,000 per tonne from earlier Rs. 6,700 per tonne and reduce the Special Additional Excise Duty on export of ATF to Rs. 3.50 per litre from earlier Rs. 4 per litre with effect from 16th day of September, 2023
CBIC Increases Excise Duty on Petroleum Crude and Reduces Duty on ATF
The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, Government of India, has issued Notification No. 30/2023-Central Excise on September 15, 2023, amending the excise duty rates on petroleum crude and aviation turbine fuel (ATF). These changes are made under the powers conferred by section 5A of the Central Excise Act, 1944, read with section 147 of the Finance Act, 2002.
Key Amendments
- Petroleum Crude Production: The special additional excise duty on the production of petroleum crude has been increased. Previously, it was Rs. 6,700 per tonne, and now it stands at Rs. 10,000 per tonne. This increase will have implications for the production and pricing of petroleum crude.
- ATF Exports: The special additional excise duty on the export of aviation turbine fuel (ATF) has been reduced. Earlier, it was Rs. 4 per litre, and now it has been lowered to Rs. 3.50 per litre. This change is expected to impact the cost structure of ATF exports.
These amendments come into effect from the 16th day of September 2023.
Ministry of Finance
(Department of Revenue)
New Delhi
Notification No. 30/2023-Central Excise Dated: 15th September, 2023
G.S.R. 672(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. 10,000 per tonne” shall be substituted;
(ii) against S. No. 2, for the entry in column (4), the entry “Rs. 3.50 per litre” shall be substituted
2. This notification shall come into force on the 16th day of September, 2023.
[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. 28/2023-Central Excise, dated the 1st September, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 646(E), dated the 1st September, 2023.
