Query on edu. cess & sec. higher edu cess

This query is : Resolved

Jagadish T G (Querist)
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08 August 2015 Dear Professional,

I have closing balances Edu. cess & Sec. Higher Edu. Cess in both Service Tax & Excise as on 31/05/2015.

w.e.f. 01/06/2015 Service Tax Rate is changed to 14% & no cesses & Excise Rate is 12.5% & no cesses.

Now my query is.

What is the treatment of these balances. Can I transfer these balances to Basic Service Tax - 14% / Basic Excise Duty - 12.5%.

Thanks in Advance.
Jagadish

Arun Kumar Singh

Arun Kumar Singh (Expert)
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09 August 2015 On or after 1.3.2015 received of inputs and input services under the head of edu. cess and hs cess you can utilised for payment of basic excise duty.