change in the rate of excise according to the budget 2015

[MEHUL ASHAR]

Respected Sir,

As regarding above subject, one of my clients is manufacturing goods deriving cetsh no.68042220 and 68109990 as u know that the FM has announced budget 2015 on 28-02-15 and he has declared duty from 12% to 12.5% as 12% was on above mentioned goods till 27-02-15 then from 01-03-15 it will be 12.36% or 12.5%.Please inform as soon as possible.

THANKING U

AI Summary

Change in excise duty rate may alter applicable central excise liability for specified tariff items from budget implementation date. Budget 2015 increased the excise duty for goods under CETSH 68042220 and 68109990 from 12% to 12.5%, and the operative issue is whether the applicable duty from 1 March 2015 should be treated as 12.36% or 12.5% for central excise liability on those tariff headings.