My concern is to find out exemption to chapter 68. There are two notifications for this- Notification 1/2011 & Notification 2/2011 and chapter 68 fall under both exemption notification. Can anyone tell which one is applicable.
13 March 2013
Under Notification no. 1/2011, you can pay the excise duty at the rate of 1% without cenvat credit facility and under the notification no. 2/2011 you can pay the excise duty at the rate of 5% with cenvat facility. Now it has been amended in the rate of duty from 1% to 2% and with cenvat facility from 5% to 6%.
CAclubindia
