The Central Board of Indirect Taxes and Customs (CBIC) has notified that import of petroleum, crude and aviation turbine fuel to attract additional customs duty equivalent to the Special Additional Excise Duty leviable under section 147 of the Finance Act, 2002.
The board on 3rd December, 2024 issued a Notification No. 32/2022-Customs by which it exempted import of Petroleum, Crude and aviation turbine fuel from from whole of the additional duty of Customs leviable thereon under sub-section (1) of section 3 of the said Customs Tariff Act, as is equivalent to the Special Additional Excise Duty leviable thereon under section 147 of the Finance Act, 2002, with effect from 1 July, 2022.
Now the Board has rescinded the Notification No. 32/2022-Customs.
“In exercise of the powers conferred by sub-section (1) of section 25 of Customs Act, 1962 (52 of 1962) read with Section 21 of General Clauses Act, 1897 (10 of 1897) and Section 147 of Finance Act, 2002 ( 20 of 2002), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 32/2022-Customs, dated 30th June, 2022 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 500(E), dated 30th June, 2022, except as respects things done or omitted to be done before such rescission,” the notification read.
Notification Details
Notification No. 48 /2024-Customs
Date: 03/12/2024
