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Rate of excise duty

MUKESH PAREEK (service) (64 Points)

26 December 2011

Hello,

can anyone confirm current rate of central excise duty on CETH No. 30049011?

Also pls confirm with relevant notification about excise duty of this product is on MRP base

or transaction value ?

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5 Replies

satya (Executive Excise) (1839 Points)
Replied 26 December 2011

HS Code

Item Descripttion

w.e.f.

Unit / Duty

Notes

30049011

Of ayurvedic system

01-Mar-2011

Duty Type	Duty Rate (ADV)	Duty Rate (SP)	Unit
Cenvat :	10
ExciseCess :	3

01-Mar-2010

Duty Type	Duty Rate (ADV)	Duty Rate (SP)	Unit
Cenvat :	10
ExciseCess :	3

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HS Negi (Senior Executive- F&A) (590 Points)
Replied 31 December 2011

Dear Sathya

Can you share with me to check out such things ?

Regards

HS Negi

MUKESH PAREEK (service) (64 Points)
Replied 03 January 2012

sorry but it;s totaly wrong.

currently we are paying 4% on transaction value but i have heared that it's increase from 4% to 5% on MRP instead of transaction Value.

Pls.anyone confirm.

CA Prabhat Gupta (Manager (Indirect Taxes)) (821 Points)
Replied 04 January 2012

Please refer to serial No.37 of Notification No.01/2011-CE dated 01.03.2011 and Serial No.19 of Notification No.2/2011-CE dated 01.03.2011. If the goods manufactured by you fall under the category mentioned in serial numbers mentionned, excise duty is payable @ 5% (with Cenvat Credit) or @ 1% (without Cenvat Credit on inputs & input services).

As rate of duty is ad velorem, it seems it has to be paid on transaction value.

Link to the Notifications is given below:

https://www.cbec.gov.in/excise/cx-act/notfns-2k11/cx-tarr2k11/ce01-2k11.pdf

https://www.cbec.gov.in/excise/cx-act/notfns-2k11/cx-tarr2k11/ce02-2k11.pdf