Dear All,
Good Morning...Kindly guide me for ed.cess and sh.ed cess for paper Industries . Presently we charging 6% Basic excise and 2% Paper cess , ed.cess 2% sh.ed.cess 1% local taxes extra . what about these cesses as per new budget.
Kindly guide me.
Regards
M.RamKumar
Education cess and SHE cess removal: only the basic excise rate applies to paper after the budget change. Education cess and Secondary & Higher Education cess ceased to apply to the paper industry effective 01.03.2015 under the Budget notification; consequently only the basic excise rate is to be charged on paper and education cesses should not be added to invoices from that date. (AI Summary)