clarification of 2% & 1% of central excise according to the budget-2015

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  1. hitler

    hitler New Member

    Respected Sir,

    Respected Sir,
    As regarding above subject, my query is that one of my clients is taking the benefit of which is about 1.5 crore exemption limit and as u know that FM has announced budget-2015 on 28-02-15 and he has removed 2% and 1% cess on excisable goods but my client, as he has to pay the excise duty on the closing stock of finished goods and raw material on 31-03-2015 then do I have to calculate 2% ed.cess and 1% s and h cess on closing stock or not.Please reply.
  2. Shishir Nayak

    Shishir Nayak Member

    Education Cess and Secondary & Higher Education Cess leviable on excisable goods fully exempted. Further, standard ad valorem rate of excise duty increased from 12% to 12.5% with immediate effect.
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