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Date: 15-Feb-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

  • The gazette contains two notifications (06/2024 and 07/2024) issued by the Ministry of Finance, Department of Revenue, regarding amendments to Central Excise duties.
  • Notification 06/2024 amends notification 18/2022-Central Excise, dated July 19, 2022.
  • Notification 07/2024 amends notification 04/2022-Central Excise, dated June 30, 2022.
  • Both notifications are effective from February 16, 2024.

Key Changes

  • Notification 06/2024 substitutes the entry in column (4) against S. No. 1 in the table of notification 18/2022-Central Excise, changing it to "Rs. 3300 per tonne".
  • Notification 07/2024 substitutes the entry in column (4) against S. No. 2 in the table of notification 04/2022-Central Excise, changing it to "Rs. 1.50 per litre".

Impact Analysis

Businesses Subject to Central Excise

  • Review existing contracts to assess impact of duty changes.

Government Revenue

  • The government likely expects these changes to either increase revenue or align with specific policy objectives.

Consumers

  • Businesses may choose to absorb the duty change or pass it on to consumers.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuer of the notifications, responsible for fiscal policy, taxation, and revenue collection. Central Board of Indirect Taxes and Customs (CBIC): Responsible for the administration of Central Excise duty. Though not explicitly mentioned, CBIC is the implementing agency. 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 is referenced as providing the context for the powers exercised under the Central Excise Act, 1944. Notification No. 18/2022-Central Excise, dated the 19th July, 2022: The principal notification being amended by Notification 06/2024. Notification No. 04/2022-Central Excise, dated the 30th June, 2022: The principal notification being amended by Notification 07/2024.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-15022024-252120 CG-DxLx-xEG-I1D5H0x2x2x0 24-252120 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.ं 101] नई दिल्ली, बृहस्ट्प जतिार, फरिरी 15, 2024/माघ 26, 1945 No. 101] NEW DELHI, THURSDAY, FEBRUARY 15, 2024/MAGHA 26, 1945 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अजधसचू ना नई दिल्ली 15 फरिरी, 2024 सख्ं या 06/2024-केन्‍दर ीय उत्प ाि िल्ु क सा.का.जन. 111(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 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, 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 में, - (i) क्रमांक 1 के सामने, कॉलम (4) में प्रजिजि के जलए, प्रजिजि "रु. 3300 प्रजत टन" कग प्रजतस्ट्थाजपत दकया िाएगा; 1055 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 2. यह अजधसूचना 16 फ़रिरी, 2024 से प्रिृत्त हगगी । [फा. स.ं 354/15/2022-टीआरयू] पुनीता बेिी, जनिेिक नगट :मख्ु य अजधसूचना संख्या 18/2022-केन्‍द रीय उत् पाि िल्ु क , दिनांक 19 िलु ाई, 2022 जिसे सा.का.जन. संख्या 584 (अ), दिनांक 19 िुलाई, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) म ें प्रकाजित दकया गया था और इसम ें अंजतम बार अजधसूचना संख्या 05/2024- केन्‍द रीय उत् पाि िल्ु क, दिनांक 2 फ़रिरी, 2024 जिसे सा.का.जन. संख्या 94 (अ), दिनांक 2 फ़रिरी, 2024 के तहत भारत के रािपत्र, असाधारण, भाग II, खडं 3, उप-खंड (i) म ें प्रकाजित दकया गया था। MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi the 15th February, 2024 No. 06/2024-Central Excise G.S.R. 111(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. 3300 per tonne” shall be substituted; 2. This notification shall come into force on the 16th day of February, 2024. [F. No. 354/15/2022-TRU] PUNEETA BEDI, Director 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. 05/2024-Central Excise, dated the 2nd February, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 94(E), dated the 2nd February, 2024. अजधसचू ना नई दिल्ली 15 फरिरी, 2024 सख्ं या 07/2024-केन्‍दर ीय उत्प ाि िल्ु क सा.का.जन. 112(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 म ें आिश् यक ह,ै भारत सरकार, जित् त मत्रं ालय (रािस्ट् ि जिभाग) की अजधसूचना संख् या 4/2022-केन्‍द रीय उत् पाि िुल् क, दिनांक 30 िून, 2022, जिसे संख्या सा.का.जन. 492 (अ), दिनांक 30 िून, 2022 म ें भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप खडं (i) म ें प्रकाजित दकया गया था, म ें और आग े भी जनम्न जलजखत संिगधन करती ह,ै यथा:-[भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 उक्त अजधसूचना म,ें सारणी में, (i) क्रमांक 2 के सामने, कॉलम (4) में प्रजिजि के जलए, प्रजिजि "रु. 1.50 प्रजत लीटर" कग प्रजतस्ट्थाजपत दकया िाएगा । 2. यह अजधसूचना 16 फ़रिरी, 2024 स े प्रिृत्त हगगी । [फा. स.ं 354/15/2022-टीआरयू] पुनीता बेिी, जनिेिक नगट : मुख्य अजधसूचना संख्या 04/2022-केन्‍द रीय उत् पाि िुल् क, दिनांक 30 िून, 2022 जिसे सा.का.जन. संख्या 492 (अ), दिनांक 30 िून, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) म ें प्रकाजित दकया गया था और इसम ें अंजतम बार अजधसूचना संख्या 02/2024- केन्‍दर ीय उत् पाि िल्ु क, दिनांक 1 िनिरी, 2024 जिसे सा.का.जन. संख्या 2(अ), दिनाकं 1 िनिरी, 2024 के तहत भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप- खंड (i) म ेंप्रकाजित दकया गया था। NOTIFICATION New Delhi the 15th February, 2024 No. 07/2024-Central Excise G.S.R. 112(E).— In exercise of the powers conferred by section 5A of the Central Excise Act, 1944 (1 of 1944) read with section 147 of 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. 04/2022-Central Excise, dated the 30th June, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 492 (E), dated the 30th June, 2022, namely:- In the said notification, in the Table, (i) against S. No. 2, for the entry in column (4), the entry “Rs. 1.50 per litre” shall be substituted; 2. This notification shall come into force on the 16th day of February, 2024. [F. No. 354/15/2022-TRU] PUNEETA BEDI, Director Note: The principal notification No. 04/2022-Central Excise, dated the 30th June, 2022, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 492 (E), dated the 30th June, 2022, and was last amended vide notification No. 02/2024-Central Excise, dated the 1st January, 2024 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 2(E), dated the 1st January, 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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