TaxTMI 
TaxTMI 
Dear sir,
For the excise duty credit, it was not necessary to take 2% 1% duty off. please send the date of close of education shess of credit excise.
central excise duty -cenvat credit
20 Mar 2017 
8 Replies 
1201 Views Asked by
Cess credit cessation: transitional utilisation allowed but opening balances and cross utilisation remain contested under tax rules.
Education cess and higher education cess ceased upon the 2015 rate change; transitional notifications allowed manufacturers to utilise accumulated cess credits for excise duty from March and service providers from June, for inputs received on or after those dates. Opening balances of cess credit are administratively regarded as utilisable against duty or service tax though contested and potentially litigable; promissory estoppel and past Supreme Court analogies have been cited in support. Most cesses ended with GST except a targeted compensation cess. Cross utilisation of cess credit with basic excise duty is prohibited. (AI Summary)
Education cess and higher education cess ceased upon the 2015 rate change; transitional notifications allowed manufacturers to utilise accumulated cess credits for excise duty from March and service providers from June, for inputs received on or after those dates. Opening balances of cess credit are administratively regarded as utilisable against duty or service tax though contested and potentially litigable; promissory estoppel and past Supreme Court analogies have been cited in support. Most cesses ended with GST except a targeted compensation cess. Cross utilisation of cess credit with basic excise duty is prohibited. (AI Summary)