CA Riswa Parekh (Practicing) (1591 Points)
28 March 2013my client is of transformer manufacture now my querry is :
1.the item cetsh no. is 85042100 - transformer, 7204100 - waste and scrap of iron and steel , 74040019 - waste and scrap of copper
now the question is rate is 12% than what will be notification number which we have to write in excise return.
Pls rply
Thnx in advance.
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 28 March 2013
No need to write notification No. its amended in general Budget on 17-3-2012 @ 12% basic excise duty.
Krunal Parekh
(Proprietor)
(147 Points)
Replied 28 March 2013
Hey Rishwa,
In the union budget 2012-13 it was amended that all the metal scrap will fall under OGL (open general gategory) and the flat rate of 12.36% excise (i.e. 12% excise + 2% edu cess + 1% hcess) will be applicable. prior to that the notification no. 21/2002 - serial no. 200 was applicable.
Thank you.
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