Excise Hike of Rs. 1/Litre
for Petrol and Rs. 1.50/Litre
for Diesel w.e.f. 31 Jan 2016
· Three Hikes in
One Month i.e. 1, 15, 30 Jan 2016
[Central Excise Notification No. 04
dated 30 January 2016]
Seeks to further amend notification
No 12/2012-Central Excise dated 17.03.2012 so as to increase the Basic Excise
Duty rates on Petrol and Diesel (both unbranded and branded).
In exercise of the powers conferred
by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944),
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.12/2012-Central Excise, dated the 17th March, 2012,
published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. 163(E), dated the 17th March, 2012, namely: -
In the said notification, in the
Table,-
(i) in serial number
70,-
(a) against item (i) of column (3),
for the entry in column (4), the entry Rs. 9.48 per litre shall be substituted;
(b) against item (ii) of column (3), for the entry in column
(4), the entry Rs. 10.66 per litre
shall be substituted;
(ii) in serial number 71,-
(a) against item (i) of column (3),
for the entry in column (4), the entry Rs. 11.33 per litre shall be substituted;
(b) against item (ii) of column (3), for the entry in column
(4), the entry Rs. 13.69 per litre
shall be substituted;
2. This
notification shall come into force with effect from the 31st day of January,
2016.
[F. No.354/123/2014 -TRU]