Home› India› Ministry of Finance› Amendment of Notfn 18 of 2022 Central Excise...
Date: 30-Aug-2024 Category: Extra Ordinary State: Union Government Country: India

Amendment of Notfn 18 of 2022 Central Excise

Issued by Ministry of Finance · Department of Revenue

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

Gazette Notification Description

  • This is a notification issued by the Ministry of Finance (Department of Revenue), Government of India, amending a previous notification regarding Central Excise.
  • The amendment specifically alters the excise duty rate for a certain item (item number 1 in the table of the original notification).

Key Changes

  • The notification amends the Central Excise notification number 18/2022-Central Excise, dated July 19, 2022.
  • Specifically, it changes the excise duty rate for item number 1 in the table from an unspecified previous rate to Rs. 1850 per tonne.
  • This amendment comes into effect on August 31, 2024.
  • This is the third amendment to notification number 18/2022-Central Excise. Previous amendments were issued on August 16, 2024 (notification number 20/2024-Central Excise).

Impact Analysis

Impact on Businesses

  • Businesses should review their internal accounting and costing systems to reflect the new excise duty rate.

Impact on Consumers

  • Consumer demand may be affected depending on price elasticity of demand for the product.

Impact on Government Revenue

  • The actual revenue increase will depend on the volume of goods produced and the difference between the old and new excise duty rates.

Suggested Action Items

  • Government agencies should monitor the impact of the new excise duty rate on businesses and consumers.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuing authority of the notification. Central Excise Act, 1944 (1 of 1944): The primary legislation under which the notification is issued. Finance Act, 2002 (20 of 2002): Legislation referenced in the notification, providing legal basis for the amendment. Notification No. 18/2022-Central Excise (dated July 19, 2022): The principal notification being amended. Notification No. 20/2024-Central Excise (dated August 16, 2024): A previous amendment to notification 18/2022-Central Excise. Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i): The official publication where the notification is published.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एxलx.x-GअI.D-H3x0x0x 82024-256793 CG-DLxx-xEG-I3D0E0x8x2x0 24-256793 असाधारण EXTRAORDINARY भाग II—खण्ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 485] नई ददल्ली, ि्क्रिार, अगस्ट्त 30, 2024/भार 8, 1946 No. 485] NEW DELHI, FRIDAY, AUGUST 30, 2024/BHADRA 8, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) नई ददल्ली, 30 अगस्ट् त, 2024 स.ं 21/2024-केन्‍दर ीय उाप ाद िल्् क सा.का.जन. 525(अ).—केंरीय सरकार, जिा त अजधजनयम, 2002 (2002 का 20) की धारा 147 के साथ पठित केन्‍द रीय उाप ाद ि्ल् क अजधजनयम, 1944 (1944 का 1) की धारा 5क के अधीन प्रदा त िजतियय का प्रयगग करते ुए, यह समाधान हग िाने पर दक ऐसा करना लगक जहत में आिश् यक ह, भारत सरकार, जिात मत्रं ालय (रािस्ट् ि जिभाग) की अजधसूचना संख् या 18/2022-केन्‍द रीय उा पाद ि्ल् क, ददनाकं , 19 ि्लाई, 2022, जिसे संख्या सा.का.जन. 584(अ), ददनाकं 19 िल् ाई, 2022, में भारत के रािपत्र, असाधारण, भाग-II, खंड 3, उप खंड (i) में प्रकाजित दकया गया था, में और आगे भी जनम्न जलजखत संिगधन करती ह, यथा:- उक्त अजधसूचना में, सारणी म,ें - (i) क्रमांक 1 के सामन,े कॉलम (4) में प्रजिजि के जलए, प्रजिजि "रु. 1850 प्रजत टन" कग प्रजतस्ट्थाजपत दकया िाएगा; 5559 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 2. यह अजधसूचना 31 अगस्ट्त, 2024 से प्रिृत्त हगगी । [फा. सं. 354/15/2022-टीआरयू] अम्रीता टाइटस, उप सजचि नगट : म्ख्य अजधसूचना संख्या 18/2022-केन्‍द रीय उा पाद ि्ल् क, ददनांक 19 िल् ाई, 2022 जिसे सा.का.जन. संख्या 584 (अ), ददनांक 19 िल् ाई, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) में प्रकाजित दकया गया था और इसमें अंजतम बार अजधसूचना संख्या 20/2024- केन्‍द रीय उा पाद ि्ल्क , ददनाकं 16 अगस्ट्त, 2024 जिसे सा.का.जन. संख्या 503(अ), ददनाकं 16 अगस्ट्त, 2024 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप-खंड (i) में प्रकाजित दकया गया था। MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 30th August, 2024 No. 21/2024-Central Excise G.S.R. 525(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. 1850 per tonne” shall be substituted; 2. This notification shall come into force on the 31st day of August, 2024. [F. No. 354/15/2022-TRU] AMREETA TITUS, Dy. 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. 20/2024-Central Excise, dated the 16th August, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 503(E), dated the 16th August, 2024. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research

Related Documents from Ministry of Finance