Excise Duty Rate For Paints Products

[Guest]

Dear Sir,

Please mention us the Basic Excise Duty for Chapter Heading 32,34,38,39 and such rate will be effective from which date. And please also explain Service tax rate which has been increased to 14 % will be effective from which date.Pls explain,Thanks and Regards.

[venkat eswaran]

Excise duty for the above mentioned items is 12.5% w.e.f 1.3.15. No Cesses.

Ser tax new rate 14% will be effective after approval of finance bill 2015 in parliament and preseident.

Notification will come.

[MUKUND THAKKAR]

All chapter 32.34.38.39 applicable rate of 12.5% from 01.03.2015 as per FB-2015.

and service tax rate 14% will be applicable after pass finance bill in parliament, expected will coming mid of May-15.

AI Summary

Excise Duty Set at 12.5% for Certain Products; Service Tax to Rise to 14% Post Finance Bill 2015 Approval. A query was raised regarding the basic excise duty rates for products under Chapter Headings 32, 34, 38, and 39, and the effective date for the increased service tax rate of 14%. Responses indicated that the excise duty for these items is 12.5% effective from March 1, 2015, with no additional cesses. The new service tax rate of 14% will become effective after the Finance Bill 2015 is approved by Parliament and the President, with an expected implementation around mid-May 2015.