TMI BlogEffect of Rescinding Notification No 18/2012-CEX X X X Extracts X X X X X X X X Extracts X X X X ..... Central Excise duty was increased from 10 % to 18 % vide Notification No. 18/2012-CE , now vide Notification no. 27/2012- CE Notification No 18/2012-CE has been rescinded. What is the efffect? Kindly give your views? - Reply By NEERAJ KUMAR, RANCHI - The Reply = I wish to make a little a correction, In my question please read "increased from 10 % to 12 %." - Reply By raj kumar shukla - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Reply = MR NEERAJ , ARE YOU SURE RATES OF DUTY CAN BE INCREASED BY A NOTIFICATION NORMALLY? - Reply By raj kumar shukla - The Reply = MR NEERAJ , ARE YOU SURE RATES OF DUTY CAN BE INCREASED BY A NOTIFICATION NORMALLY? - Reply By NEERAJ KUMAR, RANCHI - The Reply = No, as far as I understand , rate of duty is normally increased by way of finance bill only and for giving effect to it Notifi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cations are issued. - Reply By raj kumar shukla - The Reply = 18/2012 was to give effect to reductions in tariff rates. since reduction in tariff rates can not be effective unless finance bill is enacted, to make the proposal effective immediately. such notifications are issued. once finance bill is passed such notifications become in effective and are subsequently rescinded being redundant. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Reply By sv bhasker - The Reply = Mr. Niraj Please recall that till recent budget propsal, Tariff rate of excise duty was 16% in general. However, reduced rate of duty from 1.3.2008 was made effective by the Notification No. 2/2008 as amended through various Notifications as 14%,10%,8%,10% till 17.3.2012. During the budget propsals 2012, Tariff rate was reduced to 12% across the board. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Notification No. 2/2008 was rescinded on 17.3.2012, when Tariff rate was 16% till the Finance Bill 2012 became an act,fresh effective rate 12% was made applicable through notification no.18/2012 covering almost all chapters. Once the Finance Bill 2012 reducing Tariff rate 12% became law, the notification no.18/2012 became redundant and therefore rescinded. Hope convincing views are offer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. - Effect of Rescinding Notification No 18/2012-CE - Query Started By: - NEERAJ KUMAR, RANCHI Dated:- 3-6-2012 Central Excise - Got 6 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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