Home India Ministry of Finance The Central Govt. hereby makes the following further amendme...
Date: 2015-01-16 Category: Extra Ordinary State: Union Government Country: India

The Central Govt. 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.

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

Executive Summary: This notification from the Ministry of Finance, Department of Revenue, issued on January 16, 2015, introduces amendments to Notification No. 12/2012-Central Excise, dated March 17, 2012. The amendments pertain to revised entries in column 4 of the table within the original notification. These changes, under G.S.R. 40(E), take effect on January 17, 2015. Key Points / Main Content: Amendments to Central Excise Notification No. 12/2012: * The notification amends the Central Excise notification No. 12/2012-Central Excise, dated March 17, 2012. Revised Entries: * In serial number 70, against item (i) of column 3, the entry in column 4 is substituted with "8.95 per litre". * In serial number 70, against item (ii) of column 3, the entry in column 4 is substituted with "10.10 per litre". * In serial number 71, against item (i) of column 3, the entry in column 4 is substituted with "7.96 per litre". * In serial number 71, against item (ii) of column 3, the entry in column 4 is substituted with "10.25 per litre". Effective Date: * The notification comes into effect on January 17, 2015. Impact Analysis: Central Government/ Ministry of Finance/ Department of Revenue: * Impact: Responsible for implementing and enforcing the amended Central Excise duties. * Action Required: Update internal records and systems to reflect the revised rates and ensure compliance. Businesses/ Manufacturers Subject to Central Excise: * Impact: Subject to revised excise duties as specified in the notification. * Action Required: Adjust pricing and accounting practices to reflect the new excise duty rates and ensure compliance with the updated regulations.

Key Entities Referenced

Central Excise Act, 1944: An Indian law regarding central excise duties, mentioned as the legal basis for the notification. Ministry of Finance: The ministry responsible for the notification related to central excise. Department of Revenue: A department within the Ministry of Finance, specifically issuing the notification. New Delhi: The city where the notification was issued from. G.S.R. 40E: The Gazette of India, Statutory Rules (G.S.R.) number associated with the notification. Notification No.122012Central Excise: A previous notification being amended by the current notification. Central Government: The governing authority issuing the notification. AKSHAY JOSHI: The Under Secretary who signed the notification.
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