The Central Board of Indirect Taxes and Customs (CBIC) has proposed the Central Excise Bill, 2024, to replace the outdated Central Excise Act, 1944. This new legislation aims to modernize the excise framework, simplify regulations, and enhance business ease. Currently, excise duty primarily applies to petroleum products. The bill’s introduction signals the government’s plan to bring all products, including petroleum, under the Goods and Services Tax (GST). Stakeholder feedback is invited by June 26. The draft bill comprises twelve chapters, 114 sections, and two schedules, highlighting a significant shift in India’s indirect tax policy.