Date: 2014-11-12Category: Extra OrdinaryState: Union GovernmentCountry: India
The Central Govt, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Govt. of India in the Ministry of Finance (Department of Revenue), No. 12-2012-Central Excise, dated the 17th March, 2012.
Executive Summary:
This notification from the Ministry of Finance, Department of Revenue, introduces amendments to Notification No. 12/2012-Central Excise, dated March 17, 2012. The amendments, effective November 12, 2014, concern revisions to excise duties on specific items. These changes are made in the public interest, as per Section 5A of the Central Excise Act, 1944.
Key Points / Main Content:
* **Amendments to Notification No. 12/2012-Central Excise:**
* The notification introduces further amendments to the existing Central Excise framework.
* **Revisions to Excise Duties (Serial Number 70):**
* Item (i) of column 3: The excise duty is revised to 2.70 per litre.
* Item (ii) of column 3: The excise duty is revised to 3.85 per litre.
* **Revisions to Excise Duties (Serial Number 71):**
* Item (i) of column 3: The excise duty is revised to 2.96 per litre.
* Item (ii) of column 3: The excise duty is revised to 5.25 per litre.
Impact Analysis:
Central Government:
* Impact: Responsible for implementing and enforcing the revised excise duties.
* Action Required: Ensure the updated rates are accurately applied and communicated to relevant departments and stakeholders.
Businesses Subject to Excise Duty:
* Impact: Will experience changes in excise duty rates for the specified items, affecting their cost structures and pricing strategies.
* Action Required: Adjust accounting and pricing to reflect the new excise duty rates, and ensure compliance with the updated regulations.
Consumers:
* Impact: May experience indirect effects due to potential price adjustments by businesses in response to the revised excise duties.
* Action Required: No direct action is required; however, consumers may need to be aware of potential price changes.
Key Entities Referenced
Ministry of Finance: The ministry responsible for financial matters in the Government of India.
Department of Revenue: A department within the Ministry of Finance, Government of India, responsible for revenue collection.
Central Excise Act, 1944: An act of the Indian Parliament related to central excise duties.
Central Government: The executive authority of the Republic of India.
New Delhi: The capital of India, where the notification was issued.
G.S.R. 795E: A notification number in the Gazette of India, related to Central Excise.
No. 122012Central Excise: An earlier Central Excise notification being amended by this notification.
Akshay Joshi: The Under Secretary who signed the notification.
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[फा. सं. 354/123/2014-टीआरय]ू
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MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 12th November, 2014
No. 22/2014-Central Excise
G.S.R. 795(E).—In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act,
1944 (1 of 1944), the Central Government, 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. 12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary,
Part II, Section 3, Sub-section (i) vide G.S.R. 163(E), dated the 17th March, 2012, namely :—
In the said notification, in the Table,-
(i) in serial number 70,-
(a) against item (i) of column (3), for the entry in column (4), the entry “` 2.70 per litre” shall be substituted;
(b) against item (ii) of column (3), for the entry in column (4), the entry “` 3.85 per litre” shall be substituted;
(ii) in serial number 71,
(a) against item (i) of column (3), for the entry in column (4), the entry “` 2.96 per litre” shall be substituted;
(b) against item (ii) of column (3), for the entry in column (4), the entry “` 5.25 per litre” shall be substituted;
[F. No. 354/123/2014--TRU]
AKSHAY JOSHI, Under Secy.
Note : The principal notification No. 12/2012-Central Excise, dated the 17th March, 2012 was published in the Gazette of
India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 163(E) dated the 17th March, 2012 and
was last amended vide notification No. 21/2014-Central Excise, dated the 11th November, 2014 published in the
Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 792 (E) dated the
11th November, 2014.
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.