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Seeks to amend notification no 12/2012 – Central Excise dated 17/03/2012 so as to increase the Basic Excise Duty (BED) on petrol (both branded as well as unbranded) and diesel (both branded as well as unbranded).

Notification No. 24/2014-Central Excise

Date- 2nd December, 2014

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, 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, Part II, Section 3, Sub-section (i) vide G.S.R. 163(E), dated the 17th March, 2012, namely: – In the said notification, in the Table,-

(i) in serial number 70,-

(a) against item (i) of column (3), for the entry in column (4), the entry “₹ 4.95 per litre” shall be substituted;

(b) against item (ii) of column (3), for the entry in column (4), the entry “₹ 6.10 per litre” shall be substituted;

(ii) in serial number 71,-

(a) against item (i) of column (3), for the entry in column (4), the entry “₹ 3.96 per litre” shall be substituted;

(b) against item (ii) of column (3), for the entry in column (4), the entry “₹ 6.25 per litre” shall be substituted;

[F. No.354/123/2014–TRU]

(Akshay Joshi)
Under Secretary to the Government of India

Note.- The principal notification No. 12/2012-Central Excise, dated the 17th March, 2012 was 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 vide notification No.22/2014-Central Excise, dated the 12th November, 2014 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 795(E) dated the 12th November, 2014.

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Category : Excise Duty (4051)
Type : Notifications (15344) Notifications/Circulars (30517)

0 responses to “Govt. again increases excise duty on Diesel & Petrol”

  1. sudarshana says:

    It is a tragedy the govt. prefered to pocket the reduction in the international oil price to itself instead of passing on to the public. Whenever the crude prices went up govt. never cared to reduce the duty/taxes and collected huge excess money from public as the tax/duty is a function of the crude price. Govt got used to excess collection as the child get used to spend the excess money rather than save or use it for constructive purpose. Having done that, now, with the reduction in the international crude price, govt. cannot manage with the reduced collection. The prsent govt. which is supposedly ‘different’ from the previous dispensation should not have increased the duty but passed on to public. Govt must promise that it will reduce the duty/taxes whenever the crude prices start rising in future, at least.

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