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Regarding excise exemption

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 May 2015 Respected Sir
We manufacturer of Pharma Product formulation . From 2005 I am manufacturing product in exemption period. Now we fall in excise. and excise is MRP based e.g. MRP's 64.5% value. and BED 6 %. I Read notification no. 01/2011-CE DT. 1.3.2011.and amendment no 16/2012 dated 17.03.2012, in this notification , if we are not taking any Input Credit from purchase and any service than only 2 % excise will paid to department on m.r.p. , now please guide us regarding this notification, It is urgent
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
29 May 2015 The excise duty at the rate of 2% without taking cenvat credit. You should consult with any professional for abatement on MRP based.

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