Education Cess & Secondary and Heigher Education cess

[SNEHAL SHAH]

R/sir,

We are the Manufacturing of pharma product and as per Central Excise duty structure change in budget 2015 from 12.36 to 12.50 % , In our Cenvat Credit Account ( A + C ) balance as under :

1) 2% -- 400000/-

2)1% -- 200000/-

How we can utilize these balance - Either By Refund or any other procedure ..

Please guide to us .

Thanks and regards,

SNEHAL SHAH

AI Summary

Education cess credit may be retained and used under CENVAT Credit Rules; no notification mandates refund.
No notification mandates lapse or refund of accumulated Education or SHE Cess credits; such credits may be retained and, insofar as permitted by the CENVAT Credit Rules, applied to meet education/SHE cess liabilities on taxable services, and stakeholders may represent to the Board for formal guidance.