TaxTMI 
TaxTMI 
merit rate of duty
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....erit rate of duty<br> Query (Issue) Started By: - raj kumar shukla Dated:- 26-3-2012 Last Reply Date:- 13-4-2012 Central Excise<br>Got 3 Replies<br>Central Excise<br>What is merit rate of duty which f....
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....inds mention in TRU D.O.letter relating to excise `budget proposals?Has this been defined any where? Reply By ALOK GUPTA: The Reply: Please intimate the specific place where term "" Merit rate " is ....
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....mentioned in Budget proposals Reply By raj kumar shukla: The Reply: please see para 3.4 of DO of J.S TRU-1 wherein this reference is available. Reply By vijay kumar: The Reply: Dear Sir, merit rat....
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....e means the effective rate of duty applicable for the goods in question. This has not been defined in the Tariff Act or the notifications, but is generally used to indicate the applicable rate of duty....
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..... Presently, the tariff rate is 16% and the merit rate is 12% for most of the goods. If we see the exemption notifications eg. 18/2012 or 12/2012 CE, they exempt the goods over and above the rate spec....
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....ified therein and the word "merit rate" or "effective rate" is not used specifically. Hence these words are for common understanding only.<br> Discussion Forum - Knowledge Sharing ....