Effective date and time for change in Excise Duty rates
Dear Sir,
With reference to forth comming Finance Budget 2013-14 to be produced on 28.02.13. If there is any change in Excise duty rates announced by Finance Minster whether increase or decrease in Excise Duty Rate. When it would be applicable.
Regards
Pradeep Jain
Excise Duty Rate Changes Take Immediate Effect Post-Budget Announcement Per Provisional Collection of Taxes Act, 1931. A query was raised regarding the effective date for changes in excise duty rates following the announcement of the Finance Budget 2013-14. The response clarified that, under the Provisional Collection of Taxes Act, 1931, any changes in excise or customs duty rates announced in the budget would take immediate effect, typically notified from March 1st, and would be formalized after the Union Budget proposals are adopted. (AI Summary)
Central Excise
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