CBIC reduce the SAED on production of Petroleum Crude and increase export of Aviation Turbine Fuel

Last updated: 09 November 2022

Save Share

Quick Summary

The Central Board of Indirect Taxes and Customs (CBIC) has announced a reduction in the Special Additional Excise Duty (SAED) on the production of Petroleum Crude. This change, effective from 2nd November 2022, sees the SAED rate for crude oil lowered to Rs. 9,500 per tonne. Concurrently, the SAED on Aviation Turbine Fuel (ATF) has been increased to Rs. 5 per litre, aiming to boost its export.

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

Notification No. 36/2022-Central Excise

New Delhi, the 1st November, 2022

G.S.R......(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, onbeing satisfied that it is necessary in the public interest so to do,hereby makes thefollowingfurtheramendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 18/2022-Central Excise, dated the 19thJuly, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), videnumber G.S.R. 584(E), dated the 19thJuly, 2022, namely:-

In the said notification, in the Table,-

(i)against S. No. 1, for the entry in column (4), the entry “Rs. 9,500per tonne” shall be substituted;(ii)against S. No. 2, for the entry in column (4), the entry “Rs. 5per litre” shallbe substituted

2.This notification shall come into force on the2ndday of November, 2022.

[F. No. 354/15/2022-TRU]

(Amreeta Titus)

Deputy Secretary to the Government of India

Note: The principal notification No.18/2022-Central Excise, dated the 19th July, 2022was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), videnumber G.S.R. 584(E), dated the 19th July, 2022, and was last amended videnotification No. 34/2022-Central Excise, datedthe15th October, 2022, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(i), videnumber G.S.R. 779(E), dated the 15th October, 2022.

FAQ :

The SAED on the production of Petroleum Crude has been reduced to Rs. 9,500 per tonne.

The SAED on Aviation Turbine Fuel (ATF) has been increased to Rs. 5 per litre.

These amendments to the SAED rates are effective from the 2nd day of November, 2022.

These changes are detailed in Notification No. 36/2022-Central Excise, amending the principal notification No. 18/2022-Central Excise dated 19th July, 2022.