Payment of 1% or 2% Central Excise duty instead of 12%

[Sanjeev Chauhan]

Respected All,

Kindly guide regarding payment of 1 percent or 2 percent c.ex. duty instead of 12 percent duty subject to non availment of Cenvat Credit.

Please guide alongwith Circular No. or Notification No. or Rules etc.

 

Regards,

Sanjeev.

[Surender Gupta]

You may see and updated Notification No. 01/2011-CE regarding list of items eligible for 2 percent of duty of excise without availing Cenvat Credit

Central Excise - CE - 01/2011-Central Excise - 01-03-2011

[ADV. DHEERAJ SETHI]

 Notification No. 01/2011-CE dated 01-03-2011 as amended, provides exemption from payment of central excise duty as in excess of 1 percent or 2 percent [as the case may be] on the excisable goods as mentioned there under.

AI Summary

Reduced central excise duty for specified goods where Cenvat credit is not availed limits duty liability under the notification.
Reduced central excise duty applies to specified excisable goods where the taxpayer elects not to avail Cenvat credit; the notification limits duty to a lower fixed rate and exempts payment of duty in excess of that rate for listed goods, subject to the non aviability condition and the notification's terms.