CBIC reduces Special Additional Excise Duty on export of Diesel to Rs. Rs. 5.50 per litre from earlier rate of Rs. Rs. 6 per litre with effect from 16th day of September, 2023.
The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, Government of India, has issued Notification No. 31/2023-Central Excise on September 15, 2023, amending the special additional excise duty rates on diesel exports. 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 Amendment: The special additional excise duty on the export of diesel has been reduced. Previously, it was Rs. 6 per litre, and now it has been lowered to Rs. 5.50 per litre. This reduction is expected to impact the cost structure and competitiveness of diesel exports.
This amendment comes into effect from the 16th day of September 2023.
Ministry of Finance
(Department of Revenue)
New Delhi
Notification No. 31/2023-Central Excise Dated: 15th September, 2023
G.S.R. 673(E).— In exercise of the powers conferred by section 5A of the Central Excise Act, 1944 (1 of 1944) read with section 147 of 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. 04/2022-Central Excise, dated the 30th June, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 492 (E), dated the 30th June, 2022, namely:-
In the said notification, in the Table,-
(i) against S. No. 2, for the entry in column (4), the entry “Rs. 5.50 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. 04/2022-Central Excise, dated the 30th June, 2022, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 492 (E), dated the 30th June, 2022, and was last amended vide notification No. 29/2023-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. 647(E), dated the 1st September, 2023.
