Home› India› Ministry of Finance› Petroleum Notification...
Date: 01-Jul-2024 Category: Extra Ordinary State: Union Government Country: India

Petroleum Notification

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 from the Ministry of Finance (Department of Revenue), Government of India, amending a previous notification regarding Central Excise.
  • Specifically, it amends notification No. 18/2022-Central Excise, dated July 19, 2022, which was previously amended by notification No. 16/2024-Central Excise, dated June 14, 2024.
  • The amendment concerns the excise duty rate for a specific item (not explicitly named but referenced by serial number 1 in a table within the original notification).

Key Changes

  • The excise duty rate for a specific item (S. No. 1 in the table of the original notification) is changed from an unspecified amount to Rs. 6000 per tonne.
  • This amendment comes into effect on July 2, 2024.

Impact Analysis

Impact on Businesses

  • Action Item: Businesses should analyze the impact on their profitability and adjust pricing or production accordingly. They should also consult with tax advisors to ensure compliance.

Impact on Government Revenue

  • Action Item: The government should monitor the impact on revenue collection and adjust policies if necessary.

Impact on Consumers

  • Action Item: Consumers should be aware of potential price increases and adjust their purchasing decisions accordingly.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuing authority of the notification. Responsible for tax policy and revenue collection in India. Central Excise Act, 1944 (1 of 1944): The primary legislation under which this notification is issued. Governs excise duties in India. Finance Act, 2002 (20 of 2002): Legislation that provides the legal framework for the government's power to make amendments to excise duties. Notification No. 18/2022-Central Excise (dated July 19, 2022): The principal notification that is being amended by the current notification. Notification No. 16/2024-Central Excise (dated June 14, 2024): A previous amendment to Notification No. 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.एल.-अ.-01072024-255060 xxxGIDHxxx CG-DLxx-xEG-I0D1E0x7x2x0 24-255060 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 336] नई दिल्ली, सगंिार, िलु ाई 1, 2024/आषाढ 10, 1946 No. 336] NEW DELHI, MONDAY, JULY 1, 2024/ASHADHA 10, 1946 जित्त ं्ं ाल (रािस्ट्ि जिभाग) अजधसचू ना नई दिल् ली, 1 िुलाई, 2024 स.ं 17/2024-केन्‍दर ी उत्प ाि िल्ु क सा.का.जन. 359(अ).—केंरी सरकार, जित् त अजधजन ं, 2002 (2002 का 20) की धारा 147 के साथ पठित केन्‍द री उत् पाि िल्ु क अजधजन ं, 1944 (1944 का 1) की धारा 5क के अधीन प्रित् त िजतिय का प्र गग करत े ुए, ह संाधान हग िान े पर दक ऐसा करना लगक जहत ं ें आिश् क ह, भारत सरकार, जित् त ं्ं ाल (रािस्ट् ि जिभाग) की अजधसूचना संख् ा 18/2022-केन्‍द री उत् पाि िल्ु क, दिनांक, 19 िुलाई, 2022, जिसे संख् ा सा.का.जन. 584 (अ), दिनांक 19 िुलाई, 2022, ंें भारत के रािप्, असाधारण, भाग-II, खंड 3, उप खंड (i) ंें प्रकाजित दक ा ग ा था, ंें और आग े भी जनम्न जलजखत संिगधन करती ह, था:- उक्त अजधसूचना ं,ें सारणी ं,ें - 3896 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] (i) क्रंांक 1 के सांने, कॉलं (4) ंें प्रजिजि के जलए, प्रजिजि "रु. 6000 प्रजत टन" कग प्रजतस्ट्थाजपत दक ा िाएगा; 2. ह अजधसूचना 2 िुलाई, 2024 से प्रिृत्त हगगी । [फा. स.ं 354/15/2022-टीआर ू] अम्रीता टाइटस, उप सजचि नगट : ंुख् अजधसूचना संख् ा 18/2022-केन्‍द री उत् पाि िुल् क, दिनांक 19 िलु ाई, 2022 जिसे सा.का.जन. संख् ा 584(अ), दिनांक 19 िलु ाई, 2022 के तहत भारत के रािप्, असाधारण, भाग II, खंड 3, उपखडं (i) ं ें प्रकाजित दक ा ग ा था और इसंें अंजतं बार अजधसूचना संख् ा 16/2024- केन्‍द री उत् पाि िुल् क, दिनांक 14 िून, 2024 जिसे सा.का.जन. संख् ा 328(अ), दिनांक 14 िून, 2024 के तहत भारत के रािप्, असाधारण, भाग II, खंड 3, उप-खंड (i) ं ेंप्रकाजित दक ा ग ा था। MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 1st July, 2024 No. 17/2024-Central Excise G.S.R. 359(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. 6000 per tonne” shall be substituted; 2. This notification shall come into force on the 2nd day of July, 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. 16/2024-Central Excise, dated the 14th June, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 328(E), dated the 14th June, 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