excise duty for chapter 8424

[Asked by Guest]

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

[PAWAN KUMAR]

Dear Sir,

The rate is only 12.5%. The Education Cess @2% and Secondary and Higher Education Cess @1% has now exempted on all excisable goods from 01.03.2015. Please refer Notification No.14/2014-C.E. and 15/2014-C.E. dated 01.03.2015.

[Rajagopalan Ranganathan]

Sir,

Budget 2015 has subsumed Educational Cess and Secondary and Higher Educational cess in the Central Excise duty. From 1.3.2015 CENVAT duty payable on all excisable=le goods is 12.5% and payment of Educational Cess and Secondary and higher educational cess are exempt under Notifications No. 14 and 15 of 2015-CE dated 1.3.2015.

AI Summary

Central excise duty rate change: education cesses subsumed and exempt, altering excise duty computation under recent notifications.
The excise levy for the chapter is consolidated at a single rate and the Education Cess and Secondary and Higher Education Cess are no longer payable on all excisable goods with effect from 01.03.2015, pursuant to Notification Nos. 14/2014-C.E. and 15/2014-C.E. dated 01.03.2015.