CA Bimal Jain
New method provided for calculation of Basic Excise Duty on Branded High Speed Diesel
In the exercise of the power conferred under Section 5A (1) of the Central Excise Act, 1944, the Central Government under vide Notification No.04/2015-CE dated January 30, 2015 has provided the new method of imposition of Basic Excise Duty on Branded High Speed Diesel as follows:
5. 14% ad valorem plus Rs. 5.00 perlitre or
6. 10.25 per litre, whichever is lower
The said Notification is effective from January 30, 2015.
Notification No. 04/2015-Central Excise
Dated- 30th 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 amendment 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, in serial number 71, against item (ii) of column (3), for the entry in column (4), the entry “14% + ₹ 5.00 per litre or ₹ 10.25 per litre, whichever is lower” 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.03/2015-Central Excise, dated the 16th January, 2015 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 40(E) dated the 16th January, 2015.
