Miscellaneous Amendments

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..... Miscellaneous Amendments
Query (Issue) Started By: - Admin TMI Dated:- 1-3-2015 Last Reply Date:- 1-3-2015 Central Excise
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Central Excise
Question - What are proposed miscellaneous amendments in Central Excise Act ,1944 in Finance Bill 2015 ? Reply By Admin TMI: The Reply: MISCELLANEOUS 1) The Second Schedule to the Finance (No.2) Act, 1998 which deals with levy of Addi .....

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..... tional Duty of Excise and Additional Duty of Customs (commonly known as Road Cess) on Motor Spirit commonly known as Petrol is being amended so as to increase the Scheduled rate from ₹ 2 per litre to ₹ 8 per litre. The effective rate of Additional Duty of Excise and Additional Duty of Customs (commonly known as Road Cess) on Motor Spirit commonly known as Petrol is being increased from .....

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..... ₹ 2 per litre to ₹ 6 per litre. 2) The Second Schedule to the Finance Act, 1999 which deals with levy of Additional Duty of Excise and Additional Duty of Customs (commonly known as Road Cess) on High Speed Diesel oil is being amended so as to increase the Scheduled rate from Rs2 per litre to Rs8 per litre. The effective rate of Additional Duty of Excise and Additional Duty of Customs .....

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..... (commonly known as Road Cess) on High Speed Diesel oil is being increased from Rs2 per litre to Rs6 per litre. 3) The Seventh Schedule to the Finance Act, 2005 is being amended so as to omit the entry relating to levy of Additional Duty of Excise of 5% ad valorem on waters, including mineral waters and aerated waters containing added sugar. 4) The Tenth Schedule to the Finance Act, 2010 dea .....

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..... ling with Clean Energy Cess is being amended so as to increase the Scheduled rate of Clean Energy Cess from Rs100 per tonne to Rs 300 per tonne. The effective rate of Clean Energy Cess is being increased from Rs100 per tonne to Rs 200 per tonne. The changes at Para 1), 2) and 4) will come into effect immediately owing to a declaration under the Provisional Collection of Taxes Act, 1931.
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..... ssion Forum - Knowledge Sharing .....

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