Home India Ministry of Finance notification...
Date: 24-Oct-2024 Category: Extra Ordinary State: Union Government Country: India

notification

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

Gazette Notification Overview

  • This Extraordinary Gazette Notification No. 606, dated October 24, 2024, issued by the Ministry of Finance (Department of Revenue), India, amends the Fourth Schedule of the Central Excise Act, 1944.
  • Specifically, it modifies the Supplementary Notes and adds a new tariff item under Chapter 27, 'Mineral Products', relating to blended aviation turbine fuel.

Key Changes

  • Amendment of Supplementary Notes in Chapter 27 of the Fourth Schedule: Clarifies that references to Bureau of Indian Standards (BIS) standards refer to the latest published version. Provides a definition for 'Blended Aviation Turbine Fuel' as containing 70% or more Petroleum Oils or Oils from Bituminous Minerals, blended with Synthesized Hydrocarbons conforming to BIS IS 17081:2019.
  • Addition of Tariff Item 2710 19 33: A new tariff item, '2710 19 33 - - - - Blended Aviation Turbine Fuel kg. 14%', has been introduced in the Fourth Schedule under Chapter 27. This implies a 14% central excise duty on this specific type of fuel.

Impact Analysis

Impact on Aviation Industry

  • Need for cost optimization strategies: Airlines and other aviation companies will need to explore strategies to offset the increased fuel costs, potentially impacting their profitability.

Impact on Fuel Suppliers

  • Potential impact on pricing and profitability: The new excise duty will affect the pricing and profitability of fuel suppliers.

Impact on Government

  • Need for monitoring and enforcement: The government will need to implement effective monitoring and enforcement mechanisms to ensure compliance with the new regulations.

Suggested Action Items

  • Regularly review and update the regulations as needed.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuing authority of the Gazette Notification. Responsible for implementing the changes related to the Central Excise Act. Central Excise Act, 1944 (1 of 1944): The primary legislation amended by the notification. Section 3C grants the power to make these amendments. Bureau of Indian Standards (BIS): The organization whose standards (IS 1459:2018 and IS 17081:2019) are referenced in the notification for defining blended aviation turbine fuel. Gazette of India, Extraordinary, Part II—Section 3—Sub-section (i): The official publication where the notification was 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.एल.-अ.-24102024-258219 CG-DxLx-xEG-I2D4H1x0x2x0 24-258219 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 606] नई दिल्ली, बृहस्ट्प जतिार, अक्त बू र 24, 2024/कार्तकथ 2, 1946 No. 606] NEW DELHI, THURSDAY, OCTOBER 24, 2024/KARTIKA 2, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अधिसचू ना नई दिल् ली, 24 अक् तूबर, 2024 स.ं 26/2024-केन्द्रीय उत्पाि िल्ु क सा.का.जन. 664(अ).— केन्द्रीय उत्पाद शल्ु क अधिधनयम, 1944 (1944 का 1) की िारा 3ग द्वारा प्रदत्त शधियों का प्रयोग करते हुए, केन्द्र सरकार, संतुष्ट हो जाने पर कक ऐसा करना िनधहत म ें आवश्यक ह,ै उि अधिधनयम की चौथी अनुसूची म ें धनम्नधिधित संशोिन करती ह,ै अथाात्:- उि अधिधनयम म,ें चतथु ा अनुसचू ी म,ें शीर्ाक "िधनज उत्पाद" के अंतगात, अध्याय 27 में,- (i) अनुपूरक टिप्पधियों के स्थान पर, धनम्नधिधित अनुपरू क टिप्पधियां प्रधतस्थाधपत की जाएगं ी, अथाात:् - ‘अनुपूरक टिप्पधिया:ं 1. इस अध्याय म,ें भारतीय मानक ब्यूरो के ककसी मानक का अर्थ उस मानक के अंधतम प्रकाधशत संस्करि स ेसंदर्भात ह।ै उदाहरि: IS 1459 का तात्पया IS 1459: 2018 स े ह ैन कक IS 1459: 1974 से। 6936 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 2. टैररफ मि 2710 19 33 के प्रयोिनों के जलए, िब्ि “जमजित जिमानन टबाथइन ईंधन” का अर्थ ह ैकोई भी जिमानन टबाथइन ईंधन जिसम ें पेरोजलयम तले ों या जबटुजमनस खजनि स े प्राप्त तेलों का ििन 70% या उसस े अजधक ह,ै िो भारतीय मानक ब्यूरो के भारतीय मानक जिजनििे आईएस 17081:2019 के अनुरूप संश्लेजित हाइड्रोकाबथन के सार् जमजित ह;ैं'; (ii) सारिी म,ें उप-शीर्ाक 2710 19 के अंतगात, िैटरफ मद 2710 19 32 और उससे संबंधित प्रधवधियों के पश्चात ् धनम्नधिधित को अंत:स्थाधपत ककया जाएगा, अथाात:् — “2710 19 33 - - - - धमधित धवमानन िरबाइन ईंिन ककिोग्राम 14%” 2. यह अधिसूचना राजपत्र म ें प्रकाशन की तारीख़ स ेिागू होगी। [फा. स.ं सीबीआईसी-110267/42/2024-सीएक्स-VIII अनुभाग-सीबीईसी] रािेि कुमार मीना, अिर सजिि MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 24th October, 2024 No. 26/2024-Central Excise G.S.R. 664(E).— In exercise of the powers conferred by section 3C of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in the Fourth Schedule to the said Act, namely:- In the said Act, in the Fourth Schedule, under the heading “MINERAL PRODUCTS”, in Chapter 27,- (i) for the SUPPLEMENTARY NOTES, the following Supplementary Notes shall be substituted, namely:- ‘Supplementary Notes: 1. In this Chapter, reference to any standard of the Bureau of Indian Standards refers to the last published version of that standard. Illustration: IS 1459 refers to IS 1459: 2018 and not to IS 1459: 1974. 2. For the purposes of tariff item 2710 19 33, the term “Blended Aviation turbine fuel” means any Aviation turbine fuel containing by weight 70% or more of Petroleum Oils or Oils obtained from Bituminous Minerals, blended with Synthesized Hydrocarbons conforming to Indian Standards Specification of Bureau of Indian Standards IS 17081:2019;’; (ii) in the table, under the sub-heading 2710 19, after tariff item 2710 19 32 and the entries relating thereto, the following shall be inserted, namely:— “2710 19 33 - - - - Blended Aviation turbine fuel kg. 14%”. 2. This notification shall come into force on the date of its publication in the Official Gazette. [F. No. CBIC-110267/42/2024-CX-VIII SECTION-CBEC] RAJESH KUMAR MEENA, Under Secy. 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.

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