Home India Ministry of Finance petroleum notifications...
Date: 14-Jun-2024 Category: Extra Ordinary State: Union Government Country: India

petroleum notifications

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

What it means

  • The notification No. 16/2024-Central Excise, issued by the Ministry of Finance, Department of Revenue, amends notification No. 18/2022-Central Excise, dated July 19, 2022. The amendment pertains to a change in the central excise duty rate for a specific item listed in the table within the original notification.

Key Changes

  • The notification substitutes the entry in column (4) against S. No. 1 in the table of the original notification with "Rs. 3250 per tonne."
  • This notification comes into effect on June 15, 2024.

Impact Analysis

Impact on Manufacturers/Producers

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

Impact on Consumers

  • Action Item: Monitor market prices to assess the impact on consumer spending.

Impact on Government Revenue

  • Action Item: The revenue department should monitor the revenue collection to analyze the impact of the amendment.

Impact on Importers/Exporters

  • Action Item: Assess the impact on the competitiveness of domestic products in the international market.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The government body responsible for issuing and administering the notification. Central Government: The issuer of the notification, acting through the Ministry of Finance (Department of Revenue). Central Excise Act, 1944: The principal legislation under which the central excise duty is levied. Finance Act, 2002: The legislation that provides the power to the Central Government to levy excise duty. Notification No. 18/2022-Central Excise, dated the 19th July, 2022: The original notification being amended by this notification. Notification No. 15/2024-Central Excise, dated the 31st May, 2024: The notification that last amended the principal notification No. 18/2022-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.-14062024-254711 xxxGIDHxxx CG-DLxx-xEG-I1D4E0x6x2x0 24-254711 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 305] नई दिल्ली, ि्क्रिार, िनू 14, 2024/ज् ष्े ि 24, 1946 No. 305] NEW DELHI, FRIDAY, JUNE 14, 2024/JYAISHTHA 24, 1946 जित्त ं्ं ाल (रािस्ट्ि जिभाग) अजधसचू ना नई दिल् ली, 14 िून, 2024 स.ं 16/2024-केन्‍द री उत्प ाि िल्् क सा.का.जन. 328(अ).—केंरी सरकार, जित् त अजधजन ं, 2002 (2002 का 20) की धारा 147 के साथ पठित केन्‍द री उत् पाि ि्ल् क अजधजन ं, 1944 (1944 का 1) की धारा 5क के अधीन प्रित् त िजतिय का प्र गग करते ुए, ह संाधान हग िाने पर दक ऐसा करना लगक जहत ंें आिश् क ह , भारत सरकार, जित् त ं्ं ाल (रािस्ट्ि जिभाग) की अजधसूचना संख् ा 18/2022-केन्‍द री उत् पाि ि्ल् 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 आगे भी जनम् नजलजखत संिगधन करती ह , था:- उक् त अजधसूचना ंें, सारणी ं,ें - (i) क्रंांक 1 के सांने, कॉलं (4) ंें प्रजिजि के जलए, प्रजिजि "रु. 3250 प्रजत टन" कग प्रजतस्ट्थाजपत दक ा िाएगा; 2. ह अजधसूचना 15 िून, 2024 से प्रिृत्त हगगी । [फा. सं. 354/15/2022-टीआर ू] जिक्रं जिि िानेरे, अिर सजचि 3595 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] नगट : ं्ख् अजधसूचना संख् ा 18/2022-केन्‍द री उत् पाि ि्ल् क, दिनांक 19 ि्लाई, 2022 जिसे सा.का.जन. संख् ा 584 (अ), दिनांक 19 ि्लाई, 2022 के तहत भारत के रािप्, असाधारण, भाग II, खंड 3, उपखंड (i) ंें प्रकाजित दक ा ग ा था और इसंें अंजतं बार अजधसूचना सख्ं ा 15/2024- केन्‍द री उत् पाि ि्ल् क, दिनांक 31 ंई, 2024 जिसे सा.का.जन. संख् ा 300(अ), दिनांक 31 ंई, 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 14th June, 2024 No. 16/2024-Central Excise G.S.R..328(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. 3250 per tonne” shall be substituted; 2. This notification shall come into force on the 15th day of June, 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. 15/2024-Central Excise, dated the 31st May, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 300(E), dated the 31st May, 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