Please Help: exise duty
Posted Date : 17-Mar-2012 , 11:43:37 am | Posted By: Subheet
Category :
Excise | Answers :
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Comments :
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is 2% excise duty increment will affect from 17/03/2012 |
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Answers:
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 Answer by: PRIYANKA |
| In the absence of any clarification or notification specifically specifying the date, these new rates would be applicable from 1st april 2012.
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| Answer by: Ashish Karundia |
| Dear Subheet,
The increased rate of 2% i.e. effectively 12% is applicable from 16th March, 2012 midnight.[Ref: Notification No. 18/2012-CE dated 17th March, 2012]
Hope the above suffice.
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| Comments |
| Posted By : CA Raginee Goyal |
18-Apr-2012, 02:32:45 |
| As per provisional collection of taxes act 1971
the imposition or increase of duties of excise and customs has immediate effect as per declaration inserted in Finance bill.
for service tax act it will apply from the date when act will be made.....
so according to the law increase in excise applies from midnight of 16.3.12 |
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