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11
th
January, 2002
Notification No.1/2002-Central Excise
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 12
th
day of January, 2002 and shall cease to have effect on the 1
st
day
of April, 2002.
T.R. Rustagi
Joint Secretary to the Government of India
F.No.354/1/2002-TRU
Note.- (i) The First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) was enacted on 19
th
January, 1986 and was
last amended on 11
th
May, 2001 by the Finance Act, 2001 (14 of 2001).
(ii) The Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) was inserted therein on 11
th
May, 1999 by the
Finance Act, 1999 (27 of 1999) and was last amended on 11
th
May, 2001 by the Finance Act, 2001 (14 of 2001).
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