Page 98 - DHC Budget Book 2021-22 Final
P. 98
INDIA BUDGET 2021-22
8.1
Amendment in the Fourth Schedule to Central Excise Act, 1944
W.e.f. 01-01-2020, in the Fourth Schedule, in Chapter 27 of the Central Excise Act, 1944 the following amendments have been proposed with respect to petroleum products:
Amendment proposed in the description of the product
Tariff Item Existing Entry
2710 12 49 M15 Fuel conforming to standard IS 17026
Amendment proposed in the rate of the products
Amended Entry
M15 Fuel conforming to standard IS 17076
Tariff Item
2710 20 10 2710 20 20
Existing Entry
Automotive diesel fuel, containing Bio- diesel, conforming to standard IS 1460
Existing Rate
......
New Rate
14% + H 15.00 per litre
Diesel fuel blend (B6 to B20) conforming to standard IS 16531
W.e.f. 01-04-2021, in the Fourth Schedule, Chapter 27 of the Central Excise Tariff Act 1985, the following shall be substituted, namely:
Tariff Item Description of goods (1) (2)
2709 00 Petroleum oils and oils obtained from bituminous minerals, crude
2709 00 10 2709 00 90
Unit Rate of Duty (3) (4)
Nil ......
Petroleum crude
Kg.
Other
Kg.
The headings of Section IV and Chapter 24 shall be substituted with “Tobacco and manufactured tobacco substitutes; products, whether or not containing nicotine, intended for inhalation without combustion; other nicotine containing products intended for the intake of nicotine into the human body”.
Tariff item 2404 has been added in Chapter 24 for charging duty @ 81% on specified tobacco items. Comments:
The new tariff items are being inserted under Chapter 24 to bring the items in consonance with the seventh edition of the Harmonized System (HS) 2022 and to prescribe tariff rate of 81% on these tariff items.
Further, the ambit of Tobacco and manufactured tobacco substitutes has been expanded to cover products such as e-cigarettes and other electronic nicotine items which was hitherto not covered under the Excise Tariff.
96 Building a Resilient and Confident India
