Clause 185 - Amendment of Act 20 of 2002. - FINANCE (No. 2) BILL, 2019

PART XI

AMENDMENT TO THE FINANCE ACT, 2002

Amendment of Act 20 of 2002.

185. In the Finance Act, 2002, in the Eighth Schedule,––

(a) against Item No. 1, for the entry in column (3), the entry “₹ 10 per litre” shall be substituted;

(b) against Item No. 2, for the entry in column (3), the entry “₹ 4 per litre” shall be substituted.

 

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Notes on Clauses:

Clause 185 of the Bill seeks to amend the Eighth Schedule to the Finance Act, 2002, sub-clause (a) thereof seeks to increase the rate of special additional duty of excise on motor spirit commonly known as petrol from rupees seven per litre to rupees ten per litre. Sub-clause (b) thereof seeks to increase the rate of special additional duty of excise on high speed diesel oil from rupees one per litre to rupees four per litre.