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Date: 29-Feb-2024 Category: Extra Ordinary State: Union Government Country: India

petroleum notification

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

Central Excise Amendments

  • Notification 08/2024-Central Excise amends notification 18/2022-Central Excise to revise the central excise duty on certain goods.
  • Notification 09/2024-Central Excise amends notification 04/2022-Central Excise to revise the central excise duty on certain goods.
  • Both notifications come into effect on March 1, 2024.

Key Changes in Notification 08/2024

  • Revises the entry in column (4) against S. No. 1 in the table of notification 18/2022-Central Excise.
  • The entry 'Rs. 4600 per tonne' is substituted in column (4) against S. No. 1.

Key Changes in Notification 09/2024

  • Revises the entry in column (4) against S. No. 2 in the table of notification 04/2022-Central Excise.
  • The entry 'Rs. Nil per litre' is substituted in column (4) against S. No. 2.

Impact Analysis

Manufacturers and Producers

  • Need to assess the impact on profitability and competitiveness due to the revised excise duties.

Consumers

  • Monitor price changes of affected goods in the market.

Government Revenue

  • Notification 09/2024 reducing the excise duty to Rs. Nil per litre will likely decrease government revenue.

Accounting and Compliance

  • Review existing contracts and agreements to assess the impact of the revised excise duties.

Key Entities Referenced

Central Government: The issuer of the notifications, acting through the Ministry of Finance (Department of Revenue). Ministry of Finance (Department of Revenue): The government body responsible for issuing and administering central excise notifications. Central Excise Act, 1944: The primary legislation governing central excise duties in India. Section 5A provides the power to grant exemptions from excise duty. Finance Act, 2002: Section 147 provides the power to amend notifications issued under Section 5A of the Central Excise Act, 1944. Notification No. 18/2022-Central Excise: The original notification dated July 19, 2022, which is amended by Notification No. 08/2024-Central Excise. Notification No. 04/2022-Central Excise: The original notification dated June 30, 2022, which is amended by Notification No. 09/2024-Central Excise.
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.-29022024-252492 CG-DxLx-xEG-I2D9H0x2x2x0 24-252492 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.ं 137] नई दिल्ली, बृहस्ट्प जतिार, फरिरी 29, 2024/फाल्ग नु 10, 1945 No. 137] NEW DELHI, THURSDAY, FEBRUARY 29, 2024/PHALGUNA 10, 1945 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अजधसचू ना नई दिल्ली, 29 फरिरी, 2024 सख्ं या 08/2024-केन्‍दर ीय उत्प ाि िल्ु क सा.का.जन. 148(अ).— केंरीय सरकार, जित् त अजधजनयम, 2002 (2002 का 20) की धारा 147 के साथ पठित केन्‍द रीय उत् पाि िल्ु क अजधजनयम, 1944 (1944 का 1) की धारा 5क के अधीन प्रित् त िजियों का प्रयोग करत े हुए, यह समाधान हो िान े पर दक ऐसा करना लोक जहत म ें आिश् यक ह,ै भारत सरकार, जित् त मत्रं ालय (रािस्ट् ि जिभाग) की अजधसूचना संख् या 18/2022-केन्‍द रीय उत् पाि िल्ु क, दिनांक, 19 िुलाई, 2022, जिसे संख्या सा.का.जन. 584 (अ), दिनांक 19 िुलाई, 2022, म ें भारत के रािपत्र, असाधारण, भाग-II, खंड 3, उप खडं (i) म ें प्रकाजित दकया गया था, म ें और आग े भी जनम्न जलजखत संिोधन करती ह,ै यथा:- 1432 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] उक्त अजधसूचना म,ें सारणी में, - (i) क्रमांक 1 के सामने, कॉलम (4) में प्रजिजि के जलए, प्रजिजि "रु. 4600 प्रजत टन" को प्रजतस्ट्थाजपत दकया िाएगा; 2. यह अजधसूचना 1 माचच, 2024 स े प्रिृत्त होगी । [फा. स.ं 354/15/2022-टीआरयू] अम्रीता टाइटस, उपसजचि नोट : मुख्य अजधसूचना संख्या 18/2022-केन्‍द रीय उत् पाि िुल् क, दिनांक 19 िुलाई, 2022 जिसे सा.का.जन. संख्या 584 (अ), दिनांक 19 िलु ाई, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) म ें प्रकाजित दकया गया था और इसम ें अंजतम बार अजधसूचना संख्या 06/2024- केन्‍द रीय उत् पाि िुल् क, दिनांक 15 फ़रिरी, 2024 जिस े सा.का.जन. सख्ं या 111 (अ), दिनांक 15 फ़रिरी, 2024 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप-खंड (i) म ेंप्रकाजित दकया गया था। MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 29th February, 2024 No. 08/2024-Central Excise G.S.R. 148(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. 4600 per tonne” shall be substituted; 2. This notification shall come into force on the 1st day of March, 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. 06/2024-Central Excise, dated the 15th February, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 111(E), dated the 15th February, 2024. अजधसचू ना नई दिल्ली, 29 फरिरी, 2024 सख्ं या 09/2024-केन्‍दर ीय उत्प ाि िल्ु क सा.का.जन. 149(अ).—केंरीय सरकार, जित् त अजधजनयम, 2002 (2002 का 20) की धारा 147 के साथ पठित केन्‍द रीय उत् पाि िल्ु क अजधजनयम, 1944 (1944 का 1) की धारा 5क के अधीन प्रित् त िजियों का प्रयोग करत े हुए, यह समाधान हो िान े पर दक ऐसा करना लोक जहत म ें आिश् यक ह,ै भारत सरकार, जित् त मत्रं ालय (रािस्ट् ि जिभाग) की[भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 अजधसूचना संख् या 4/2022-केन्‍द रीय उत् पाि िुल् क, दिनांक 30 िून, 2022, जिसे संख्या सा.का.जन. 492 (अ), दिनांक 30 िून, 2022 म ें भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप खडं (i) म ें प्रकाजित दकया गया था, म ें और आग े भी जनम् नजलजखत संिोधन करती ह,ै यथा:- उक्त अजधसूचना म,ें सारणी में, (i) क्रमांक 2 के सामने, कॉलम (4) में प्रजिजि के जलए, प्रजिजि "रु. िून्‍दय प्रजत लीटर" को प्रजतस्ट्थाजपत दकया िाएगा । 2. यह अजधसूचना 1 माचच 2024, स े प्रिृत्त होगी । [फा. स.ं 354/15/2022-टीआरयू] अम्रीता टाइटस, उपसजचि नोट : मख्ु य अजधसूचना संख्या 04/2022-केन्‍द रीय उत् पाि िल्ु क, दिनांक 30 िून, 2022 जिसे सा.का.जन. संख्या 492 (अ), दिनांक 30 िून, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) म ें प्रकाजित दकया गया था और इसम ें अंजतम बार अजधसूचना संख्या 07/2024- केन्‍द रीय उत् पाि िुल् क, दिनांक 15 फ़रिरी, 2024 जिस े सा.का.जन. संख्या 112(अ), दिनांक 15फ़रिरी, 2024 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप-खंड (i) म ें प्रकाजित दकया गया था। NOTIFICATION New Delhi, the 29th February, 2024 No. 09/2024-Central Excise G.S.R. 149(E).— In exercise of the powers conferred by section 5A of the Central Excise Act, 1944 (1 of 1944) read with section 147 of 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. 04/2022-Central Excise, dated the 30th June, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 492 (E), dated the 30th June, 2022, namely:- In the said notification, in the Table, (i) 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 1st day of March, 2024. [F. No. 354/15/2022-TRU] AMREETA TITUS, Dy. Secy. Note: The principal notification No. 04/2022-Central Excise, dated the 30th June, 2022, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 492 (E), dated the 30th June, 2022, and was last amended vide notification No. 07/2024-Central Excise, dated the 15th February, 2024 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 112(E), dated the 15th February, 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.

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