excise duty as per current budget 2015-16

[ASHOK AMIN]

Dear Sirs,

Kindly let me know as per current budget 2015-16 the education cess had been subsumed with central excise duty (i.e. 12.36% to 12.50%) , Sir, while preparing invoice should we show only excise duty as 12.50 % ? What about education cess ?

AI Summary

Clarification on 2015-16 budget: Education cess subsumed into excise duty, invoices to show only 12.50% excise duty. A query was raised regarding the 2015-16 budget changes, specifically about the subsumption of the education cess into the central excise duty, increasing it from 12.36% to 12.50%. The question was whether invoices should reflect only the excise duty at 12.50% and what to do about the education cess. One response confirmed that only the excise duty should be shown. Another response inquired about the notification on transferring the education cess and secondary education cess to the basic excise account or handling the un-utilized balance.