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Date: 31-Jul-2024 Category: Extra Ordinary State: Union Government Country: India

Petroleum notifications

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • This gazette notification, number 19/2024-Central Excise, dated July 31, 2024, further amends a previous notification (No. 18/2022-Central Excise, dated July 19, 2022) regarding Central Excise. The amendment specifically alters the excise duty rate for a certain item (not explicitly named in the provided text).

Key Changes

  • The key change is an amendment to the excise duty rate. Specifically, in the table of the original notification, against serial number 1, the entry in column 4 (representing the excise duty) is changed from an unspecified previous rate to Rs. 4600 per tonne. This amendment is effective from August 1, 2024.

Impact Analysis

Impact on Businesses

  • Businesses need to review their cost structures and pricing models in light of this change. They should also ensure compliance with the updated excise duty regulations.

Impact on Consumers

  • Consumers should be aware of potential price fluctuations in the affected goods.

Impact on Government Revenue

  • The Ministry of Finance should monitor the impact on revenue collection closely.

Suggested Action Items

  • Clear communication of the changes to affected businesses and the public is crucial.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuing authority of the notification. Responsible for the implementation and enforcement of the excise duty changes. Central Excise Act, 1944 (1 of 1944): The primary legislation under which this notification is issued. Finance Act, 2002 (20 of 2002): Legislation referenced in the notification, providing additional legal basis for the excise duty changes. Notification No. 18/2022-Central Excise (dated July 19, 2022): The principal notification that this notification amends. It contains the original table with the excise duty rates. Notification No. 18/2024-Central Excise (dated July 15, 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.-31072024-255956 CG-DxLx-xEG-I3D1H0x7x2x0 24-255956 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.ं 427] नई दिल्ली, बुधिार, िुलाई 31, 2024/श्रािण 9, 1946 No. 427] NEW DELHI, WEDNESDAY, JULY 31, 2024/SHRAVANA 9, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अधिसचू ना नई दिल्ली, 31 िुलाई, 2024 सख्ं या 19/2024-केन्‍दर ीय उत्प ाि िल्ु क सा.का.जन. 466(अ).— केंरीय सरकार, जित् त अजधजनयम, 2002 (2002 का 20) की धारा 147 के साथ पठित केन्‍द रीय उत् पाि िुल् क अजधजनयम, 1944 (1944 का 1) की धारा 5क के अधीन प्रित् त िजियों का प्रयोग करते हुए, यह समाधान हो िाने पर दक ऐसा करना लोक जहत म ें आिश् यक ह,ै भारत सरकार, जित् त मंत्रालय (रािस्ट् ि जिभाग) की अजधसूचना संख् या 18/2022-केन्‍द रीय उत् पाि िुल् 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 खंड (i) म ें प्रकाजित दकया गया था, म ें और आगे भी जनम्न जलजखत संिोधन करती ह,ै यथा:- 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; 4753 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 2. यह अजधसूचना 1 अगस्ट्त, 2024 से प्रिृत्त होगी । [फा. स.ं 354/15/2022-टीआरयू] जिक्रम जििय िानेरे, अिर सजचि 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 िुलाई, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) में प्रकाजित दकया गया था और इसमें अंजतम बार अजधसूचना संख्या 18/2024- केन्‍द रीय उत् पाि िुल् क, दिनांक 15 िुलाई, 2024 जिसे सा.का.जन. संख्या 406(अ), दिनांक 15 िुलाई, 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 31st July, 2024 No. 19/2024-Central Excise G.S.R. 466(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 August, 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. 18/2024-Central Excise, dated the 15th July, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 406(E), dated the 15th July, 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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