CBIC increases Special Additional Excise Duty on production of Petroleum Crude to Rs. 9800 from earlier Rs. 9050 per tonne and reduce the Special Additional Excise Duty on export of ATF to Rs. Nil per litre from earlier Rs. 1 per litre with effect from November 1, 2023 vide Notification No. 36/2023-Central Excise Dated : 31st October, 2023 by amending notification No. 18/2022-Central Excise, dated the 19th July, 2022.
Introduction: The Ministry of Finance, Department of Revenue, has issued Notification No. 36/2023-Central Excise on October 31, 2023, amending the earlier notification No. 18/2022-Central Excise, dated the 19th July, 2022. This amendment aims to modify the Special Additional Excise Duty rates, specifically on the production of Petroleum Crude and the export of Aviation Turbine Fuel (ATF).
Detailed Analysis: The Central Government, exercising its powers under the Central Excise Act, 1944, and the Finance Act, 2002, has made significant changes. Firstly, the Special Additional Excise Duty on the production of Petroleum Crude has been increased to Rs. 9800 per tonne. Secondly, the duty on the export of Aviation Turbine Fuel (ATF) has been reduced to Rs. Nil per litre. These amendments, effective from November 1, 2023, impact the petroleum industry, influencing production costs and export dynamics.
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 36/2023-Central Excise | Dated : 31st October, 2023
G.S.R. 810(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 SNo. 1, for the entry in column (4), the entry “Rs. 9800 per tonne” shall be substituted;
(ii) against SNo. 2, for the entry in column (4), the entry “Rs. Nil per litre” shall be substituted.
This notification shall come into force on the 1st day of November, 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. 34/2023-Central Excise, dated the 17th October, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 747(E), dated the 17th October, 2023.
