Hello,
What is the rate of duty of Central Excise? Is it 12.36% for all types of goods or does it vary from category to category?
Also, what is the frequency of Returns for Central Excise? Is it monthly or quarterly or half yearly or yearly?
yashsr (CA) (2285 Points)
04 October 2012Hello,
What is the rate of duty of Central Excise? Is it 12.36% for all types of goods or does it vary from category to category?
Also, what is the frequency of Returns for Central Excise? Is it monthly or quarterly or half yearly or yearly?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 04 October 2012
1) assesee who have availed any value based exemption - Quarterly .others - monthly
2) rate is normally 12 % BED, 2% ED 1% S&HSED total 12.36%, in some cases its lesser depending on tariff notifications, and certain conditions.
yashsr
(CA)
(2285 Points)
Replied 04 October 2012
| Originally posted by : U S Sharma | ||
 |
1) assesee who have availed any value based exemption - Quarterly .others - monthly 2) rate is normally 12 % BED, 2% ED 1% S&HSED total 12.36%, in some cases its lesser depending on tariff notifications, and certain conditions. |
 |
Thanks!
1) Which assessees can avail this value based exemption?
2) So does this mean 12.36% is the maximum rate of excise? Or can there also be a rate greater than 12.36%?
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 04 October 2012
SSI exemption is value based ( notification no 8/2003)
certain goods are higher than 12.36% such as tobacco products chap 24( cigarates) and cars chap 87 (passanger cars)
Thousand of products are there, and hundreds of notifications regarding rate,
pur exact detail read central excise tariff.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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