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 rate change for paints products effective from notified date; service tax increase applies after finance bill passage. Excise duty for paints and related goods under Chapters 32, 34, 38 and 39 is 12.5% effective from 1 March 2015 with no cesses; the proposed service tax increase to 14% is contingent on passage of the Finance Bill 2015 and will take effect only after parliamentary approval and issuance of a notification.