TaxTMI 
TaxTMI 
TaxTMI 
Excise duty for chapter 8224 has been changed to 12.5%.Kindly confirm and whether Educational Cess 2% and High Educational Cess 1% is still applcable.
Regards
Seby
excise duty for chapter 8424
Guest
Excise Duty for Chapter 8424 Set at 12.5%; Educational and Higher Educational Cess Exempted under Budget 2015 Changes. A query was raised regarding the excise duty for chapter 8424, specifically whether the rate had changed to 12.5% and if the Educational Cess of 2% and Higher Educational Cess of 1% were still applicable. Two responses clarified that as of March 1, 2015, the excise duty rate is indeed 12.5%, and both the Educational Cess and the Higher Educational Cess have been exempted. This change was implemented under Notifications No. 14/2014-C.E. and 15/2014-C.E. dated March 1, 2015, as part of Budget 2015. (AI Summary)