Ed.Cess & H.Se.Ed.Cess

[Sushil Kumar Sharma]

Dear sir,

After new budget 2015-16 change in central excise duty rate 12% to 12.5%.of all goods.

and Ed.cess 2% and H.S.ed cess 1% is exemption.

But Ed cess is laying with us as on 28.02.2015 in P.L.A. a/c and Cenvat a/c(Rg-23A part II)

what to do of this ed cess amount.

[Guest]

Dear Sir,

Till date Department is not declare for utilization of Closing balance in 2 % and 1%.

Pls wait, we are expected to the department is update before 1 st April 2015.

Regards

Pravin Kadam

[chetan rachhadiya]

Agree with Pravinji.

AI Summary

Education cess abolition leaves closing cess balances in excise accounts pending departmental guidance on utilisation. Change in central excise levy abolished the education cess and higher education cess, leaving closing cess balances recorded in the Public Ledger Account and Rg 23A (CENVAT) part II. No departmental instruction has been issued on treatment or utilisation of those closing balances, and stakeholders were advised to await formal guidance rather than take unilateral action.