Discussions Forum | ||||||
Home Forum Central Excise This | ||||||
A Public Forum. Anyone can participate to share knowledge. |
||||||
---|---|---|---|---|---|---|
We acknowledge the contributions of Experts/ Authors. | ||||||
Submit new Issue / Query |
||||||
merit rate of duty, Central Excise |
||||||
|
||||||
merit rate of duty |
||||||
What is merit rate of duty which finds mention in TRU D.O.letter relating to excise `budget proposals?Has this been defined any where? Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
Please intimate the specific place where term "" Merit rate " is mentioned in Budget proposals
please see para 3.4 of DO of J.S TRU-1 wherein this reference is available.
Dear Sir, merit rate means the effective rate of duty applicable for the goods in question. This has not been defined in the Tariff Act or the notifications, but is generally used to indicate the applicable rate of duty. Presently, the tariff rate is 16% and the merit rate is 12% for most of the goods. If we see the exemption notifications eg. 18/2012 or 12/2012 CE, they exempt the goods over and above the rate specified therein and the word "merit rate" or "effective rate" is not used specifically. Hence these words are for common understanding only. Page: 1 Old Query - New Comments are closed. |
||||||