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Date: 15-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. 12/2024-Central Excise, issued by the Ministry of Finance, Department of Revenue, amends notification No. 18/2022-Central Excise, dated July 19, 2022, regarding central excise duties.
  • The amendment is made under the powers conferred by Section 5A of the Central Excise Act, 1944, read with Section 147 of the Finance Act, 2002.
  • The central government has determined that this amendment is necessary in the public interest.

Key Changes

  • The notification substitutes the entry in column (4) against S. No. 1 in the table of notification No. 18/2022-Central Excise.
  • The original entry is replaced with “Rs. 9600 per tonne”.
  • This notification comes into effect on April 16, 2024.

Impact Analysis

Manufacturers/Producers

  • Action Item: Review costing and pricing strategies to account for the revised central excise duty. Ensure compliance with the new rate from April 16, 2024.

Consumers

  • Action Item: Monitor price changes of relevant goods to understand the impact on consumer spending.

Government Revenue

  • Action Item: Track revenue collection from central excise duties to assess the effectiveness of the change.

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 and overseeing central excise duties. Central Excise Act, 1944: The primary legislation governing central excise duties in India. Section 5A provides the power to grant exemptions from excise duties. Finance Act, 2002: Section 147 provides the power to amend the Central Excise Act, 1944. Notification No. 18/2022-Central Excise: The principal notification being amended by this notification, originally issued on July 19, 2022. Notification No. 11/2024-Central Excise: The notification that last amended notification No. 18/2022-Central Excise, dated April 3, 2024.
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.-15042024-253713 CG-DxLx-xEG-I1D5H0x4x2x0 24-253713 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.ं 233] नई दिल्ली, सोमिार, अप्रलै 15, 2024/चत्रै 26, 1946 No. 233] NEW DELHI, MONDAY, APRIL 15, 2024/CHAITRA 26, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अजधसचू ना नई दिल्ली, 15 अप्रलै , 2024 सख्ं या 12/2024-केन्‍दर ीय उत्प ाि िल्ु क सा.का.जन. 247(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) में प्रकाजित दकया गया था, म ें और आग े भी जनम्न जलजखत संिोधन करती ह,ै यथा:- उक्त अजधसूचना म,ें सारणी म,ें - (i) क्रमांक 1 के सामने, कॉलम (4) में प्रजिजि के जलए, प्रजिजि "रु. 9600 प्रजत टन" को प्रजतस्ट्थाजपत दकया िाएगा; 2565 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 2. यह अजधसूचना 16 अप्रैल, 2024 से प्रिृत्त होगी । [फा. स.ं 354/15/2022-टीआरय]ू जिक्रम जििय िानेरे, अिर सजचि नोट : मख्ु य अजधसूचना संख्या 18/2022-केन्‍द रीय उत् पाि िल्ु क , दिनांक 19 िुलाई, 2022 जिसे सा.का.जन. संख्या 584 (अ), दिनांक 19 िुलाई, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) में प्रकाजित दकया गया था और इसम ें अंजतम बार अजधसूचना संख्या 11/2024- केन्‍द रीय उत् पाि िल्ु क, दिनांक 3 अप्रलै , 2024 जिसे सा.का.जन. संख्या 241(अ), दिनांक 3 अप्रैल, 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 15th April, 2024 No. 12/2024-Central Excise G.S.R. 247(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. 9600 per tonne” shall be substituted; 2. This notification shall come into force on the 16th 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. 11/2024-Central Excise, dated the 3rd April, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 241(E), dated the 3rd April, 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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