Saturday, February 28, 2015

Basic Custom Duty on Petrol is reduced.

Basic Custom Duty on Petrol is Rs. 6 per litre, As per Notification No. 6/2015 dated 01.03.2015.

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA 
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE) 

NOTIFICATION No.6/2015-Customs 

New Delhi, the 1st March, 2015. 

G.S.R. (E).- In exercise of the powers conferred by section 103 of the Finance (No.2) Act, 1998 (21 of 1998), read with sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts motor spirit commonly known as petrol, falling under heading 2710 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from so much of the additional duty of customs leviable thereon under section 103 read with the Second Schedule to the said Finance (No.2)Act, 1998, as is in excess of the amount calculated at the rate of rupees six per litre. [F.No. 334/5/2015-TRU] (Akshay Joshi) Under Secretary to the Government of India