Excise Duty Cut of Rs. 8 per Litre on Petrol, Diesel Rs. 6

· Additional Duty under Road and Infrastructure Cess on Petrol and Diesel Reduced to Rs. 5 and Rs. 2 per litre from Rs. 13 and Rs. 8 per litre w.e.f. 22 May 2022

[Notification No. 02/2022-Central Excise dated 21 May 2022]

Seeks to amend Notification No. 04/2019-Central Excise reducing Road and Infrastructure Cess (RIC) on Petrol and Diesel.

G.S.R. (E). – In exercise of the powers conferred by section 112 of Finance Act, 2018 (13 of 2018), read with section 5A of the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the Excise Act), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 04/2019-Central Excise, dated the 6th July, 2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (i), vide number G.S.R. 487(E), dated the 6th July, 2019, namely:-

In the said notification, in the Table, -

(i) against Sl. No. 1, for the entry in column (4), the entry “Rs. 5 per litre” shall be substituted;

(ii) against Sl. No. 2, for the entry in column (4), the entry “Rs. 2 per litre” shall be substituted.

2. This notification shall come into force with effect from the 22nd May, 2022.

[F. No. 354/11/2022–TRU]