The CBIC vide Notification No. 06/2022- Central Excise dated June 30, 2022 has issued the exemption of the Special Additional Excise Duty leviable under Section 147 read with the Eighth Schedule to the said Finance Act, 2002 (“the Finance Act”) on the Crude Petroleum falling under heading 2709 of the of the Fourth Schedule to the Central Excise Act, 1944, when produced by a person whose annual production during the preceding Financial Year was less than two million barrel, w.e.f. July 1, 2022.
The Notification can be accessed at: https://taxinformation.cbic.gov.in/view-pdf/1009401/ENG/Notifications
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