I would like to understand how Rounding off is to be done for Education Cess.

My understanding is that All Excise duties as well as cess amounts should be rounded off to the nearest rupee.

Suppose there is an excise invoice for items whose Assessable Value is 7320.

14% Excise duty = 1024.80 (1025 when rounded off).

Should i calculate Education Cess of 2% on 1024.80 (1024.80*2/100 = 20.496, rounded off to 20) or should i calculate Education Cess of 2% on Rounded off Excise duty of 1025 (1025*2/100 = 20.50, rounded off to 21).

I am confused what is the correct education cess that should appear in the invoice. Should it be the one calculated on the unrounded off excise duty or should it be the the one calculated on the rounded off excise duty?

What is the point of view of law regarding this? Can anyone provide any reference?

I could not locate any reference as to how the cess should be computed. If anyone can point me in the correct direction, it would be great.

Thanks in Advance.

Best regards / Vijay

Please clarify with Section or rule no

1) We need to supply our product to govt org for one project ( Expemted for Excise)
2) If we purchase raw mtrl for this project can excise duty on tht mtrl is cenvatable or not.
3)If yes under which section and what need doccumentation req.
4) If no then is it total mtrl cost need to bare by compnay.

1. Has STP units have to file ER-2 to the Central excise? (Notification No.24/2008(non-tarrif))

2. if yes, do STP units need to register with Central Excise also?

suppoese i send the exciseble goods for repair, if yes please send me a form, rules and notification.

Please explain me a Procedure of Sub-Contractor and how to maintained a records related to Excise & Accounts and what are the forms are prepare and how to reconcile the quantity also.

Dear All Members Can Any one Provide Me the Simple &Best Notes to Learn CENVAT.My Email ID rakeshu1986@gmail.com, raaj007@ymail.com
Thanks In Advance

whether cenvat credit benefit will be avaibalble on pur. of oil , petrol & disel.

I am manufacturer. I have made export of goods. but i don't receive export proceeds within 6 months . what is the liability and whether it will affect my EPCG claim .

Dear sir,

Is manufacture of edible oils liable for excise duty? Is there any exemption available for Edible oil frm excise duty

1) Dealer is a Pvt.Ltd. Co. engaged in producing automobile parts (both with material & on job-work basis). It sales major part of production to a EOU without levying CENVAT duty. And therefore it has CENVAT Credit balance of around Rs.12lakhs which is untilised since 2 years. And because of this fact now they are not taking credits of new machines purchased as they can at least claim depreciation on the duty for Income Tax purpose.

Whether we can claim this balance credit as refund and what procedure we should follow?