Anybody give me a answer...
After Union Budget 2015 became Service tax rate 14 % and Basic Excise Duty 12.5%.
But Basic Excise Duty Came with immediate effect.but Service tax rate changed after enactment only.Why?
Vineeth PN (Account Assistant) (687 Points)
22 July 2015Anybody give me a answer...
After Union Budget 2015 became Service tax rate 14 % and Basic Excise Duty 12.5%.
But Basic Excise Duty Came with immediate effect.but Service tax rate changed after enactment only.Why?
Niraj Kumar Sinha
(Sr. Officer, SPSIL)
(648 Points)
Replied 27 July 2015
Excise duty is governed by Central Excise Act and there is no need of passing this in the Parliament.
While service tax is governed by finance bill. Financial bill is effected only after passing from parliament.
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