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Increase in CENVAT and Special Duty of Excise on High Speed Diesel and
Motor Spirit
Notification No. 1 dated
11th January 2002
This notification has been rescinded by Central
Excise Notification No. 12 dated 1st March 2002.
WHEREAS the Central Government is satisfied that the
duty of excise {called the Central Value Added Tax (CENVAT)} leviable on high
speed diesel and the special duty of excise on motor spirit (commonly
known as petrol), falling under heading No. 27.10 of the First Schedule to
the Central Excise Tariff Act, 1985 (5 of 1986) should be increased and that
circumstances exist which render it necessary to take immediate action;
NOW, therefore, in exercise of the powers conferred
by clause (b) of sub-section (1) of section 3 of the said Central Excise Tariff
Act as substituted by the Central Excise Tariff (Amendment) Ordinance, 2002 (1
of 2002), the Central Government, hereby directs that the First Schedule and the
Second Schedule of the said Central Excise Tariff Act shall be amended in the
following manner, namely: -
(i) in the First Schedule to
the said Central Excise Tariff Act, in Section V, in Chapter 27, against
sub-heading No. 2710.90 occurring in column (2), for the entry in column (4),
the entry �20%� shall be substituted;
(ii) in the Second Schedule to the
said Central Excise Tariff Act, against sub-heading No. 2710.19 occurring in
column (2), for the entry in column (4), the entry �74%� shall be
substituted.
2.
This notification shall come into force on the 12th day of
January 2002 and shall cease to have effect on the 1st day of
April 2002.
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