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Date: 03-Apr-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

What it means

  • The notification No. 11/2024-Central Excise, issued by the Ministry of Finance, Department of Revenue, amends notification No. 18/2022-Central Excise, dated July 19, 2022. This amendment pertains to central excise duties and is being made in the public interest.
  • The notification substitutes the entry in column (4) against S. No. 1 in the table of the principal notification.

Key Changes

  • The central excise duty for the specified item under S. No. 1 in the table of notification No. 18/2022-Central Excise is revised to Rs. 6800 per tonne.
  • This notification comes into effect on April 4, 2024.

Impact Analysis

Manufacturers

  • Action Item: Update accounting systems and pricing strategies to reflect the new excise duty rate.

Consumers

  • Action Item: Monitor the price changes of the goods.

Government Revenue

  • Action Item: The relevant department should monitor the revenue impact of the change.

Accounting and Finance Departments

  • Action Item: Ensure compliance with the updated excise duty regulations and reporting requirements.

Key Entities Referenced

Central Government: The issuer of the notification, acting through the Ministry of Finance (Department of Revenue). Ministry of Finance (Department of Revenue): The specific department within the government responsible for issuing the notification. 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 the central excise duty. Notification No. 18/2022-Central Excise, dated the 19th July, 2022: The principal notification being amended by this notification. Notification No. 10/2024-Central Excise, dated the 15th March, 2024: The last notification that amended the principal notification No. 18/2022-Central Excise.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-03042024-253540 CG-DxLx-xEG-I0D3H0x4x2x0 24-253540 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.ं 227] नई दिल्ली, बुधिार, अप्रलै 3, 2024/चत्रै 14, 1946 No. 227] NEW DELHI, WEDNESDAY, APRIL 3, 2024/CHAITRA 14, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अजधसचू ना नई दिल्ली, 3 अप्रैल, 2024 सख्ं या 11/2024-केन्‍दर ीय उत्प ाि िल्ु क सा.का.जन. 241(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 िजतियय का प्रयगग करत े ुए, यह समाधान हग िान े पर दक ऐसा करना लगक जहत में आिश् यक ह,ै भारत सरकार, जित्त मंत्रालय (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, में भारत के रािपत्र, असाधारण, भाग-II, खंड 3, उप खडं (i) में प्रकाजित दकया गया था, में और आग े भी जनम्न जलजखत संिगधन करती ह,ै यथा:- उक्त अजधसूचना म,ें सारणी म,ें - (i) क्रमांक 1 के सामने, कॉलम (4) में प्रजिजि के जलए, प्रजिजि "रु. 6800 प्रजत टन" कग प्रजतस्ट्थाजपत दकया िाएगा; 2407 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 2. यह अजधसूचना 4 अप्रैल, 2024 से प्रिृत्त हगगी । [फा. स.ं 354/15/2022-टीआरयू] जिक्रम जििय िानेरे, अिर सजचि नगट : मख्ु य अजधसूचना संख्या 18/2022-केन्‍द रीय उत् पाि िुल्क , 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 इसमें अंजतम बार अजधसूचना संख्या 10/2024- केन्‍द रीय उत् पाि िुल् क, दिनांक 15 माच,च 2024 जिसे सा.का.जन. संख्या 204(अ), दिनांक 15 माच,च 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 3rd April, 2024 No. 11/2024-Central Excise G.S.R. 241(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. 6800 per tonne” shall be substituted; 2. This notification shall come into force on the 4th day of April, 2024. [F. No. 354/15/2022-TRU] VIKRAM VIJAY WANERE, 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. 10/2024-Central Excise, dated the 15th March, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 204(E), dated the 15th March, 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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