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

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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.

AI Summary

Education Cess Credits Pre-March 2015 Not Usable for Excise Duty at 12.5%, Confirms Notification No. 12/2015-CENT. A query was raised regarding the utilization of Education Cess and Secondary Higher Education Cess credits on inputs before March 1, 2015, for paying Basic Excise Duty at 12.5%, as per Notification No. 12/2015-CENT dated April 30, 2015. The response clarified that these credits cannot be used for such payments. It was further explained that only Cenvat credits taken on or after March 1, 2015, for Education Cess and Secondary Higher Education Cess can be utilized for excise duty payments, confirming the recent notification's stipulations.