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Increase in Excise Duty on petrol & Diesel (both branded & unbranded)

Central Government vide Notification No. 03/2015-CE dated January 16, 2015 has increased the Excise duty on Petrol (both branded as well as unbranded) and Diesel (both branded as well as unbranded) by Rs. 2 per Litre. The new rates shall be effective from January 17, 2015.

CA Bimal Jain

In the exercise of the power conferred under Section 5A (1) of the Central Excise Act, 1944, the Central Government vide Notification No. 03/2015-CE dated January 16, 2015 has increased the Excise duty on Petrol (both branded as well as unbranded) and Diesel (both branded as well as unbranded) by Rs. 2 per Litre. The new rates shall be effective from January 17, 2015.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)

Notification No. 03/2015-Central Excise

Dated-16th January, 2015

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 “ ₹ 8.95 per litre” shall be substituted;

(b)      against item (ii) of column (3), for the entry in column (4), the entry “ ₹ 10.10 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 “ ₹ 7.96 per litre” shall be substituted;

(b)   against item (ii) of column (3), for the entry in column (4), the entry “ ₹ 10.25 per litre” shall be substituted;

2.          This notification shall come into force with effect from the 17th day of January, 2015.

[F. No.354/123/201 4-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.02/2015- Central Excise, dated the 7th January, 2015 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 15(E) dated the 7th January, 2015.

Categories: Excise Duty
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