https://www.taxtmi.com/circulars?id=53393 A 2% Education Cess is imposed on aggregate customs, excise and service tax duties with restricted credit usable only to pay education cess on final products; customs, excise and service tax rates and exemptions are comprehensively revised across sectors (metals, minerals, textiles, IT, health, agriculture, export promotion), the textile duty regime is restructured to mandate duty on manmade fibres while allowing optional duty/credit for other textiles, CENVAT credit rules are narrowed for AED(GSI), compounding of offences is permitted, and service tax is expanded with cross creditability between goods and services and numerous procedural and valuation amendments. en-us Thu, 08 Jul 2004 00:00:00 +0530 Sat, 02 May 2015 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53393 A 2% Education Cess is imposed on aggregate customs, excise and service tax duties with restricted credit usable only to pay education cess on final products; customs, excise and service tax rates and exemptions are comprehensively revised across sectors (metals, minerals, textiles, IT, health, agriculture, export promotion), the textile duty regime is restructured to mandate duty on manmade fibres while allowing optional duty/credit for other textiles, CENVAT credit rules are narrowed for AED(GSI), compounding of offences is permitted, and service tax is expanded with cross creditability between goods and services and numerous procedural and valuation amendments. Circulars Central Excise Thu, 08 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53393