{"id":74379,"date":"2023-09-25T18:50:12","date_gmt":"2023-09-25T13:20:12","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=74379"},"modified":"2024-05-22T15:29:18","modified_gmt":"2024-05-22T09:59:18","slug":"cbic-inotification-30-2023","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/cbic-inotification-30-2023\/","title":{"rendered":"CBIC issues Notification No. 30\/2023-Central Excise amending Notification 18\/2022-Central Excise"},"content":{"rendered":"<p>On 15<sup>th<\/sup> September 2023, the Central Board of Indirect Taxes (BCIC) issued Notification No. 30\/2023-Central Excise, amending Notification No. 18.20222-Central Excise dated 19<sup>th<\/sup> July 2022. The <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Amendment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;An &amp;quot;amendment&amp;quot; refers to the formal change or correction of a legal document, often involving additions, variations, or deletions to address irregularities or clarify points in an agreement.(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/amendment\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>amendment<\/a> 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 16<sup>th<\/sup> September 2023. Thus, the Notification 18\/2022-Central Excise amends the <strong><a href=\"https:\/\/enterslice.com\/excise-tax-compliance\">excise duty<\/a><\/strong> 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.<\/p>\n\n\n\n<p><strong>The Key Amendments are as follows:<\/strong>&ndash;<\/p>\n\n\n\n<ul>\n<li><strong>Petroleum Crude Production<\/strong><\/li>\n<\/ul>\n\n\n\n<p>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.<\/p>\n\n\n\n<ul>\n<li><strong>ATF Exports<\/strong><\/li>\n<\/ul>\n\n\n\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":61,"featured_media":74525,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[11305],"tags":[5368],"acf":{"service_id":"588"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Central Excise amending Notification 18\/2022-Central Excise &amp; CBIC issues Notification No. 30\/2023<\/title>\n<meta name=\"description\" content=\"On 15th September 2023, the Central Board of Indirect Taxes (BCIC) issued Notification No. 30\/2023-Central Excise, amending Notification No. 18.20222.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterslice.com\/learning\/cbic-inotification-30-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Excise amending Notification 18\/2022-Central Excise &amp; CBIC issues Notification No. 30\/2023\" \/>\n<meta property=\"og:description\" content=\"On 15th September 2023, the Central Board of Indirect Taxes (BCIC) issued Notification No. 30\/2023-Central Excise, amending Notification No. 18.20222.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterslice.com\/learning\/cbic-inotification-30-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterslice\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/enterslice\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-25T13:20:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-22T09:59:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2023\/09\/CBIC-issues-Notification-No.-302023-Central-Excise-amending-Notification-182022-Central-Excise.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"840\" \/>\n\t<meta property=\"og:image:height\" content=\"441\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@enterslice\" \/>\n<meta name=\"twitter:site\" content=\"@enterslice\" \/>\n<!-- \/ Yoast SEO plugin. -->","authorName":"Monisha Chaudhary","authorImageUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2022\/04\/Monisha-Chaudhary-150x150-1.jpg","authorDescription":"Monisha Chaudhary is a distinguished partner at Enterslice with 10+ years of relevant industry experience in company incorporation, fintech, regulatory compliance, insurtech consulting, and M&amp;A. Her creative thought process pushes her to draft excellent writeups. Besides effortlessly tackling business challenges, she invests her free time in writing blogs and articles.","postViews":371,"readingTime":1,"nextPost":{"id":74356,"slug":"cbic-inotification-64-2023"},"prevPost":{"id":74414,"slug":"cbic-inotification-31-2023"},"featuredMediaUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2023\/09\/CBIC-issues-Notification-No.-302023-Central-Excise-amending-Notification-182022-Central-Excise.jpg","postTerms":"CBIC Notification","_links":{"self":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/74379"}],"collection":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/comments?post=74379"}],"version-history":[{"count":6,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/74379\/revisions"}],"predecessor-version":[{"id":74394,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/74379\/revisions\/74394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media\/74525"}],"wp:attachment":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media?parent=74379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/categories?post=74379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/tags?post=74379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}