CBIC increases Special Additional Excise Duty (SAED) on production of Petroleum Crude to Rs. 2300 from earlier Rs. 1300 per tonne and reduces the Special Additional Excise Duty on export of ATF to Rs. Nil per litre from earlier Rs. 1 per litre with effect from 02nd day of January, 2024 vide Notification No. 01/2024-Central Excise Dated : 1st January, 2024 by amending Principal notification No. 18/2022-Central Excise, dated the 19th July, 2022.
MINISTRY OF FINANCE
(Department of Revenue)
New Delhi
Notification No. 01/2024-Central Excise | Dated: 1st January, 2024
G.S.R. 1(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 makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 18/2022-Central Excise, dated the 19th July, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 584 (E), dated the 19th July, 2022, namely:-
In the said notification, in the Table, –
(i) against S. No. 1, for the entry in column (4), the entry “Rs. 2300 per tonne” shall be substituted;
(ii) against S. No. 2, for the entry in column (4), the entry “Rs. Nil per litre” shall be substituted
2. This notification shall come into force on the 2nd day of January, 2024.
[F. No. 354/15/2022-TRU]
NITISH KARNATAK, Under Secy.
Note : The principal notification No. 18/2022-Central Excise, dated the 19th July, 2022 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 584 (E), dated the 19th July, 2022, and was last amended vide notification No. 41/2023-Central Excise, dated the 18th December, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 896(E), dated the 18th December, 2023
