CBIC reduces Special Additional Excise Duty on production of Petroleum Crude and export of Aviation Turbine Fuel vide Notification No. 18/2022-Central Excise | Dated: 19th July, 2022.
MINISTRY OF FINANCE
(Department of Revenue)
New Delhi
Notification No. 18/2022-Central Excise | Dated: 19th July, 2022
G.S.R. 584(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 exempts the excisable goods of the description specified in column (3) of the Table below, and falling within the Chapter or heading or sub-heading or tariff item of the Fourth Schedule to the said Central Excise Act as specified in the corresponding entry in column (2) of the said Table, from so much of the Special Additional Excise Duty leviable thereon under section 147 read with the Eighth Schedule to the said Finance Act, 2002, as is in excess of the amount calculated at the rate specified in the corresponding entry in column (4) of the said Table:
TABLE
|
S. No. |
Chapter or heading or sub-heading or tariff item | Description of Goods | Rate |
| (1) | (2) | (3) | (4) |
| 1. | 2709 | Petroleum crude | Rs. 17,000 per tonne |
| 2. | 2710 | Aviation Turbine Fuel | Rs. 4 per Litre |
2. This notification shall come into force on the 20th day of July, 2022.
[F. No. 354/15/2022-TRU]
NITISH KARNATAK, Under Secy.
