CBIC reduces Special Additional Excise Duty on export of Diesel to Rs. 2.00 per litre from earlier rate of Rs. 4.00 per litre with effect from 18th day of October, 2023.
The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification, dated October 31, 2023, announcing a reduction in the Special Additional Excise Duty on the export of diesel. The amendment is made under the powers conferred by section 5A of the Central Excise Act, 1944, read with section 147 of the Finance Act, 2002.
Here are the key details of the notification:
Change in Excise Duty: The Special Additional Excise Duty on the export of diesel has been reduced from the earlier rate of Rs. 4.00 per litre to the new rate of Rs. 2.00 per litre.
Effective Date: The new rate of Rs. 2.00 per litre for Special Additional Excise Duty will come into effect from the 1st day of November, 2023.
This change is aimed at promoting or facilitating the export of diesel and is made in the public interest. It is in line with the Central Government’s powers to amend excise duty rates for various products.
The notification also refers to a previous notification, No. 04/2022-Central Excise, issued on June 30, 2022, and its latest amendment in notification No. 35/2023-Central Excise, issued on October 17, 2023. The current notification, No. 37/2023-Central Excise, supersedes the earlier notifications to implement the reduction in the Special Additional Excise Duty on diesel exports.
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MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 37/2023-Central Excise | Dated : 31st October, 2023
G.S.R. 811(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, against S. No. 2, for the entry in column (4), the entry “Rs.2 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. 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. 35/2023-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. 748(E), dated the 17th October, 2023.
