Excise Chap:8515, Notification No.04/2014

[M I Khan]

Excise Duty under Chapter 85, Tariff Item 85153910,85153920,85153990,85159000 NOTIFICATION NO.04/2014 DT.17.02.2014 - Central Excise - -

As per notification No.04/2014 dt.17.02.2014 we supplied goods under chapter heading 85 @10% from 12%. Is notification no.04/2014 dtd.17.02.2014 will be continued from 01.01.2015 or not??? -

AI Summary

Excise duty rate change: concessional lower rate expired; standard tariff now applies and invoices should state tariff rate.
The concessional excise rate under Notification No.04/2014 for specified Chapter 85 goods expired on 31.12.2014 and was not extended; the duty reverted to the standard rate from 01.01.2015. For invoicing after the concession, taxpayers charging the standard tariff need not cite the earlier notification number and may record the applicable tariff rate on the excise invoice alongside the chapter/heading classification to justify the duty charged.