Excise Duty on Petrol Reduced and Diesel Hiked- Effective rate of excise duty on Petrol has been reduced from Rs. 6.35 to Rs.1.20 and on Diesel, hiked from ‘nil’ to Rs. 1.46.
New Delhi, the 14th September, 2012
G.S.R. (E).-In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), 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. 12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary vide number G.S.R.163 (E) dated 17th March, 2012, namely:-
In the said notification, in the Table,-
(i) in Sl. No. 70, for the entry in column (4), against item (i), the entry “`1.20 per litre” shall be substituted;
(ii) in Sl. No. 71, for the entry in column (4), against item (i), the entry “`1.46 per litre” shall be substituted.
[F. No. 354/95/2008 –TRU (Part-II)]
(Raj Kumar Digvijay)
Under Secretary to the Government of India
Note: The principal notification No.12/2012-Central Excise dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.163 (E), dated the 17th March, 2012 and was last amended by notification No. 34/2012-Central Excise, dated the 10th September, 2012 published vide number G.S.R. 674 (E), dated the 10th September, 2012.