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Date: 30-Apr-2024 Category: Extra Ordinary State: Union Government Country: India

Petroleum operations

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • The notification No. 13/2024-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 the central excise duty rate applicable to a specific item in the table of the original notification.
  • The notification is issued under the powers conferred by section 5A of the Central Excise Act, 1944, read with section 147 of the Finance Act, 2002.
  • The government has deemed the amendment necessary in the public interest.
  • This notification will come into effect on May 1, 2024.

Key Changes

  • The notification substitutes the entry in column (4) against S. No. 1 in the table of the original notification No. 18/2022-Central Excise.
  • The original entry in column (4) is replaced with “Rs. 8400 per tonne”.
  • The change in excise duty rate will be effective from May 1, 2024.

Impact Analysis

Impact on Manufacturers

  • Manufacturers need to update their pricing strategies and costing models to reflect the new excise duty rate from May 1, 2024.

Impact on Consumers

  • The extent of the impact on consumers will depend on the pricing decisions of the manufacturers and market dynamics.

Impact on Government Revenue

  • The overall effect on government revenue will depend on the volume of production and sales of the product subject to the revised duty.

Suggested Action Items

  • Legal and compliance teams should ensure adherence to the updated regulations and maintain proper documentation.

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 government body responsible for issuing the notification. Central Excise Act, 1944: The primary legislation under which the notification is issued. Specifically, section 5A is referenced. Finance Act, 2002: Section 147 of this act is referenced as providing the basis for the powers exercised in the notification. Notification No. 18/2022-Central Excise: The principal notification being amended by this notification, dated July 19, 2022. Notification No. 12/2024-Central Excise: The previous notification that amended notification No. 18/2022-Central Excise, dated April 15, 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.-30042024-253980 CG-DxLx-xEG-I3D0H0x4x2x0 24-253980 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.ं 246] नई दिल्ली, मगं लिार, अप्रलै 30, 2024/ििै ाख 10, 1946 No. 246] NEW DELHI, TUESDAY, APRIL 30, 2024/VAISAKHA 10, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अजधसचू ना नई दिल्ली, 30 अप्रलै , 2024 सख्ं या 13/2024-केन्‍दर ीय उत्प ाि िल्ु क सा.का.जन. 267(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 खंड (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. 8400 प्रजत टन" को प्रजतस्ट्थाजपत दकया िाएगा; 2834 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] 2. यह अजधसूचना 1 मई, 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 िलु ाई, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खडं 3, उपखंड (i) में प्रकाजित दकया गया था और इसम ें अंजतम बार अजधसूचना संख्या 12/2024- केन्‍द रीय उत् पाि िुल् क, दिनांक 15 अप्रैल, 2024 जिसे सा.का.जन. संख्या 247(अ), दिनांक 15 अप्रलै , 2024 के तहत भारत के रािपत्र, असाधारण, भाग II, खडं 3, उप-खंड (i) में प्रकाजित दकया गया था। MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 30th April, 2024 No. 13/2024-Central Excise G.S.R. 267(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. 8400 per tonne” shall be substituted; 2. This notification shall come into force on the 1st day of May, 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. 12/2024-Central Excise, dated the 15th April, 2024, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 247(E), dated the 15th 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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