Notiifcation no 12/2015-CENT dt. 30-04-2015

[Asked by Guest]

Dear Sir,

As per notiifcation no 12/2015 CE (NT) dt.30.04.2015, whether we can utilized the balance of Education cess and She.cess credit availed on inputs lying before 01.03.2015 for payment of Basic Excise duty i.e. 12.5%,Please explain.thanks and regards.

[PAWAN KUMAR]

Dear Sir,

No, it can not be utilized. The Cenvat taken on or after 01.03.2015 of Ed.Cess 2% and Secondary Higher Education Cess 1% can be utilized for payment of duty of excise as per the recent notification 12/2015-CE (NT) Dated 30.04.2015.

[DR.MARIAPPAN GOVINDARAJAN]

The views of Pawan Kumar is correct.

AI Summary

Education cess credit utilization restricted: only credits taken on or after the notified date may pay basic excise duty.
Credits of Education Cess and Secondary and Higher Education Cess availed before 01.03.2015 cannot be utilised for payment of basic excise duty; only cenvat credits of those cesses taken on or after 01.03.2015 may be applied to discharge basic excise liability pursuant to Notification No. 12/2015-CE (NT).