Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
Recovery of Shares
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
On 15th September 2023, the Central Board of Indirect Taxes (BCIC) issued Notification No. 30/2023-Central Excise, amending Notification No. 18.20222-Central Excise dated 19th July 2022. The amendment increased the Special Additional Excise Duty on the production of Petroleum Crude to INR 10,000 per tonne, which was earlier at INR 6,700 per tonne. It further reduced the Special Additional Excise Duty on the export of ATF to INR 3.50 per litre, which was earlier INR 4 litres, effective from 16th September 2023. Thus, the Notification 18/2022-Central Excise amends the excise duty rates on petroleum crude and aviation turbine fuel (ATF). These changes were made by exercising powers conferred to it under Section 5A of the Central Excise Act, 1944 read with Section 147 of the Finance Act, 2002.
The Key Amendments are as follows:–
The special additional excise duty on the production of petroleum crude has been increased from INR 6,700 per tonner to INR 10,000 per tonne. The amendment will have implications for the production and pricing of petroleum crude.
The special additional excise duty on the exports of aviation turbine fuel (ATF) has been reduced. Earlier it was at INR 4 per litre but not it has been lowered to INR 3.50 per litre. This amendment is expected to affect the cost structure of ATF exports.
The Securities and Exchange Board of India (SEBI) issued a circular on May 2, 2025, simplifying...
Experiencing the loss of a loved one is one of the deepest emotional hardships a person can fac...
On January 16, 2025, the Reserve Bank of India (RBI) released the list of Non-Banking Financial...
Over the decades, the Oil and Natural Gas Corporation (ONGC) has been a key pillar in the portf...
The Reserve Bank of India, on April 11, 2025, posted a Press Release No. 2025-2026/96 on their...
Are you human?: 6 + 9 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
This notification by the government of India was published on 29 February 2024 to bring changes in the custom...
30 Mar, 2024
The CBIC has on 6th September 2023 released a Notification No. 64/2023- Customs (N.T.). Vide this notification, the...
22 May, 2024