Home› India› Ministry of Finance› Petroleum operations...
Date: 15-May-2023 Category: Extra Ordinary State: Union Government Country: India

Petroleum operations

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. 22/2023-Central Excise, issued by the Ministry of Finance, Department of Revenue, amends notification No. 18/2022-Central Excise, dated July 19, 2022. The amendment replaces the central excise duty rate specified in the table of the original notification against S. No. 1, column (4) with “Nil per tonne”. This change is effective from May 16, 2023.

Key Changes

  • The central excise duty on the goods specified in S. No. 1 of the table in notification No. 18/2022-Central Excise is reduced to nil per tonne.
  • This change is effective from May 16, 2023.

Impact Analysis

Impact on Manufacturers/Producers

  • This may lead to increased production and potentially lower prices for consumers.

Impact on Consumers

  • Consumers may benefit from potentially lower prices of the goods due to the elimination of central excise duty.

Impact on Government Revenue

  • The government's revenue from central excise duty on these goods will decrease. However, this may be offset by increased production and consumption, leading to higher revenue from other taxes.

Suggested Action Items

  • Monitor the impact on sales volume and profitability.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuing authority of the notification. Central Excise Act, 1944: The primary legislation governing central excise duties in India. Finance Act, 2002: Legislation that contains provisions related to central excise and other taxes. Notification No. 18/2022-Central Excise, dated July 19, 2022: The original notification being amended by this notification. Notification No. 21/2023- Central Excise, dated May 1, 2023: Previous amendment to 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.-15052023-245881 xxxGIDHxxx CG-DL-E-15052023-245881 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.ं 294] नई दिल्ली, सोमिार, मई 15, 2023/ििै ाख 25, 1945 No. 294] NEW DELHI, MONDAY, MAY 15, 2023/VAISAKHA 25, 1945 जित्त मत्रं ालय (रािस्ट्ि जिभाग) अजधसचू ना नई दिल् ली, 15 मई, 2023 स.ं 22/2023-केंद्रीय उत्पाि िल्ु क सा.का.जन. 366(अ).—केंद्रीय सरकार, जित् त अजधजनयम, 2002 (2002 का 20) की धारा 147 के साथ पठित केंद्रीय उत्पाि िुल्क अजधजनयम, 1944 (1944 का 1) की धारा 5क के अधीन प्रित् त िजियों का प्रयोग करत े हुए, केन्‍द द्र सरकार, इस बात स े संतुष्ट होते हुए दक ऐसा करना िनजहत म ें आिश्यक ह,ै एति्द्वारा, भारत सरकार के जित्त मंत्रालय (रािस्ट्ि जिभाग) की अजधसचू ना संखयांक 18/2022-केंद्रीय उत्पाि िुल्क, दिनांक 19 िुलाई, 2022, जिसे संखया सा.का.जन. 584(अ), दिनांक 19 िलु ाई, 2022, म ें भारत के रािपत्र, असाधारण, भाग II, खण्ड 3, उप-खण्ड (i) म ें प्रकाजित दकया गया था, म ेंऔर आग े जनम्नजलजखत संिोधन करती ह,ै अथाात:् - उि अजधसूचना म,ें सारणी म,ें क्रमांक 1 के सामन,े कॉलम (4) म ें प्रजिजष्ट के स्ट्थान पर, प्रजिजष्ट "िून्‍दय प्रजत टन" को प्रजतस्ट्थाजपत दकया िाएगा । 2. यह अजधसूचना 16 मई, 2023 स े प्रिृत्त होगी । [फा. स.ं 354/15/2022-टीआरय]ू अमृता टाइटस, उप सजचि 3137 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] नोट : मुखय अजधसूचना संखया 18/2022-केंद्रीय उत्पाि िुल्क, दिनांक 19 िुलाई, 2022, जिसे सा.का.जन. संखया 584(अ), दिनांक 19 िलु ाई, 2022 के तहत भारत के रािपत्र, असाधारण, भाग II, खण्ड 3, उप-खण्ड (i) म ें प्रकाजित दकया गया था और इसम ें अंजतम बार अजधसूचना सखं या 21/2023- केंद्रीय उत्पाि िुल्क, दिनाकं 1 मई, 2023, द्वारा संिोजधत की गई थी, जिसे सा.का.जन. संखया 336(अ), दिनांक 1 मई, 2023, के तहत भारत के रािपत्र, असाधारण, भाग II, खण्ड 3, उप-खण्ड (i) म ेंप्रकाजित दकया गया था। MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 15th May, 2023 No. 22/2023-Central Excise G.S.R. 366(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, against S. No. 1, for the entry in column (4), the entry “Nil per tonne” shall be substituted. 2. This notification shall come into force on the 16th day of May, 2023. [F. No. 354/15/2022-TRU] AMREETA TITUS, Dy. 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. 21/2023-Central Excise, dated the 1st May, 2023, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.336(E), dated the 1st May, 2023. 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

Related Documents from Ministry of Finance